Fierce Biotech reports that key members of the House are pushing for tax benefits for the biotech and pharma industries. The plan (if passed in the current form) would double the tax credit to 40% for the first $150 M in research spending. Or, it wuld allow repatriation of up to $150 M in annual overseas profits at a tax rate of 5.25%, if it is then spent on R&D.
Proponents hail it as a stimulus for R&D spending. Opponents decry it as a tax give away to pay for R&D that would happen anyway. Overall, I'd go for it.
Posted by Bruce Lehr Aug 5th 2011.