SUMMARY
This Idea Brief proposes a new Bonus Manufacturing Tax Credit to create jobs by boosting support for domestic research and development and rewarding companies that manufacture in the United States.
Although it remains one of America’s largest and most productive industries, U.S. manufacturing has been hit hard over the past decade by business closings and job losses that have been exacerbated by the recession. R&D is a key driver of manufacturing activities, but America’s support for its manufacturers lags behind other nations, including countries like China, Brazil, and India. This Idea Brief proposes a new Bonus Manufacturing Tax Credit to provide additional tax incentives to companies that both research and manufacture their products in America, stimulating job growth and helping to keep R&D in the U.S.
