Arlington, Va. (March 22, 2023) – The Aerospace Industries Association (AIA) President and CEO Eric Fanning today issued the following statement on the introduction of the American Innovation and Jobs Act, a bill to repeal the research and development (R&D) tax policy change that took effect last year.
“Congress once again has the opportunity to reverse course on the harmful R&D tax policy and send a message to our adversaries that the U.S. is serious about investments in our innovation base and national security.
“American companies have always played a leading role in advancing the technology we need to maintain our competitive edge, especially in the defense sector. We must use every tool at our disposal to encourage R&D and remain competitive on the global stage.
“As China continues to double down on incentives for research and development, we urge Congress to swiftly take up and pass this critical legislation.”