TechAmerica, an organization representing 1,200 companies in the technology sector, issued a statement Monday urging Congress to take action on several initiatives that will impact the industry during the current lame-duck session.
Among the issues that TechAmerica would like to see addressed include the expired Federal Research and Development Tax Credit, a three percent withholding requirement for government payments to contractors, as well as several cybersecurity measures.
"This Congress still has the opportunity to help hone America’s competitive edge in the global innovation economy," TechAmerica President and CEO Phil Bond said in the statement. "Consensus exists for swift passage of key cybersecurity measures critical to our national and economic security. Congress must delay the three percent withholding requirement for contractor payments until the implications for agencies and companies can be better understood. The R&D credit is a jobs credit—an extension should be a no-brainer in a time of uncertain recovery."
For more information about TechAmerica, visit www.techamerica.org.