The U.S. Congress pushes through last-minute legislation extending the R&D tax credit, which benefits some 16,000 U.S. companies conducting research and development in America, including automotive manufacturers. While the credit expired June 30, passage of the extension until 2006 retroactively will cover qualified R&D costs incurred between July and September. The credit initially was conceived in 1981 under the Reagan Admin. and has expired 11 times, only to be extended each ...
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