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Statement by AIA President and CEO Marion Blakey Regarding Congressional Impasse on R&D Tax Credit

September 30, 2008

We are very disappointed that Congress was unable to reach a compromise and renew the research and development tax credit on Monday. While we recognize that this has been a very busy session and the press of the election season is upon us, the tax credit is important to our nation's economy, especially in today's troubling times. The tax credit creates high-paying jobs and is an important tool to stimulate our economy. A proven incentive for thousands of small businesses, it helps U.S. companies compete in the global economy by encouraging investment in high technology. We urge Congress to renew the tax credit before adjournment.