Press Room: Article
Economic Growth Through Targeted Tax Credits
The federal government has a long history of using tax credits to spur growth and economic development. The 1981 Economic Recovery Tax Act (1981 ERTA) initiated the tax credit for increasing research and development/experimentation activities (R&D credit).
Since 1981, this credit has been modified and extended numerous times, stimulating experimentation and advancements in a variety of industries. In the “green energy” sector, the investment tax credit, renewable energy grant, and a host of fuel credits and other incentives have been effective in encouraging investment in this critical market.