Scarinci Hollenbeck, LLC
The Firm
201-896-4100 info@sh-law.comFirm Insights
House GOP passes permanent R&D tax cut
Author: Scarinci Hollenbeck, LLC
Date: May 27, 2014
Key Contacts
Back
Despite fierce opposition, House Republicans brought 62 Democrats over to their side to pass a bill that would make permanent R&D tax cut, according to MSNBC. The legislation passed in a 274-131 vote on the morning of May 9, amid significant lobbying and a threat from the White House to veto the bill.
The bill has been called a policy ‘no brainer’ because both sides agree on the need for a permanent incentive for American companies to conduct R&D, the news source explained. Republicans and Democrats disagree on how the cut should be implemented, and this disagreement has put both sides in an interesting position.
Democrats argue that the Republicans, who have spent a lot of time in recent years campaigning against any spending that isn’t paid for by a reduction somewhere else, do not have the same reservations when it comes to corporate tax breaks.
“Both parties, as the Chairman has indicated, have repeatedly supported temporary extensions, but neither have had the audacity to come to this floor and say ‘we’re going to borrow enough to make it permanent, without closing a single loophole,'” Rep. Lloyd Doggett said on the House floor. “This bill represents only the first of many installments of hundreds of billions of dollars that the Republicans plan to finance with more debt, borrowing from the Chinese, or whoever will lend it to us.”
The research credit was enacted first in 1981, according to Bloomberg. During that time, it has existed in a perpetual state of lapse and renewal, as have a number of other tax breaks. Many lawmakers on both sides of the aisle argue that the uncertainty created by this cycle has prevented companies from relying on it, damaging its effectiveness.d
- Practices: Tax and Trusts & Estates
- Locations: Red Bank, NJ, New York City, Little Falls, NJ
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
Data Center, Dark Fiber, and Lit Services Agreements in New Jersey: Key Terms and Legal Pitfalls
For New Jersey data center owners and operators, a service agreement may look routine when it is signed. The network is functioning, the vendor is meeting its installation schedule, and the parties have agreed on pricing and performance specifications. The provisions that seem most important at that stage are often the technical ones. That changes […]
Author: George McGowan
Fort Monmouth Redevelopment and the Transformation of Monmouth County Real Estate
The Fort Monmouth redevelopment has entered its execution phase, and it is repositioning the broader Monmouth County real estate market. When Netflix and the Fort Monmouth Economic Revitalization Authority closed on the 292-acre Mega Parcel in December 2025, the transaction did more than hand over a deed. It marked the moment Fort Monmouth stopped being […]
Author: Donald M. Pepe
Local Zoning and Land Use Rules Every New Jersey Rental Property Owner Should Understand
Owning a residential rental property in New Jersey involves more than finding tenants and collecting rent. Property owners must comply with a combination of state laws, municipal ordinances, building and housing codes, and zoning and land use regulations. These requirements can affect everything from the number of dwelling units permitted at a property to whether […]
Author: Donald M. Pepe
Real Estate Litigation Explained: Top 5 Disputes and How to Avoid Them
The five most common real estate disputes are breach of contract claims, landlord-tenant conflicts, zoning and land use disagreements, construction claims, and boundary disputes. Understanding why each arises, and taking preventive steps early, can help property owners, tenants, developers, and investors avoid costly litigation. Key Takeaways: Real estate transactions are complex endeavors involving numerous parties […]
Author: Paul Grossman
When a Child Turns 18: The Gap in Your Family’s Estate Plan
Once a child turns 18, parents lose the automatic legal authority to make medical and financial decisions on their behalf, even if the child still lives at home or remains on the family’s insurance. Three documents close that gap: a durable power of attorney, a health care proxy or directive, and a HIPAA authorization. For […]
Author: George McGowan
Business Mediation: An Overview and Practical Tips
Business mediation is a confidential, voluntary process in which a neutral third party helps companies negotiate a resolution to a commercial dispute without going to trial. Because working with a mediator is very different from litigating in the courtroom, it is important to understand how commercial mediation works, when it makes sense for your dispute, […]
Author: Paul Grossman
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.