Vote "Yes" on HR 4438 American Research and Competitiveness

Open Email to House Speaker Boehner,

Dear Speaker Boehner,
Act4Chemistry is a segment of the American Chemical Society. Today I received the following email from them:
"This week, the House of Representatives will be voting on a very important incentive to promote innovation in America . H.R. 4438, the American Research and Competitiveness Act of 2014, would make permanent the U.S. Research and Development (R&D) Tax Credit. This crucial piece of legislation provides companies a tax credit every year that they increase their R&D spending in the United States. The credit is needed to keep the United States competitive in the global race for R&D investment dollars, and a permanent R&D credit will significantly enhance the credit’s value. If U.S. companies cannot be sure that the credit will be available for the duration of an R&D project, typically 5-10 years for manufacturers, it undermines the value of this important incentive."
I strongly urge your people to push this through, with a proviso. If there is anything in the bill which increases the amount of funding for government research, it should be eliminated. Technology research is a function of private industry and should be retained as such. The tax credit does two things. It reduces taxes and encourages the development of technology by private industry. This is exactly what we want to go.