Healthcare Leadership Council Endorses Legislation to Strengthen, Make Permanent Federal Research and Development Tax Credit

WASHINGTON – The Healthcare Leadership Council (HLC), a coalition of leaders of the nation’s premier healthcare companies and organizations, today announced its support for bipartisan legislation that would improve and make permanent the federal tax credit for research and development investments.

In a letter to Rep. Kevin Brady (R-TX), primary sponsor of the “American Research and Competitiveness Act of 2014” (H.R. 4438), HLC president Mary R. Grealy wrote that her organization applauds bill cosponsors for “taking action that will protect jobs in the United States and support the development of lifesaving treatments for patients.”

In her letter, Ms. Grealy noted that healthcare companies and organizations invest billions of dollars annually on research and development of new medical innovations. “A stable and permanent research and development tax credit will increase U.S. competitiveness in a global marketplace which equates to more U.S. jobs”

She added, “A strengthened and permanent R&D tax credit is important in allowing the healthcare community to move forward in finding new and innovative treatments that will improve patient lives.”