VIDEO OF McCaul's press conference remarks:  http://www.youtube.com/watch?v=vZqxG3YzxPU

WASHINGTON, D.C. – The bipartisan Congressional High Tech Caucus announced its full support of efforts to increase the Research & Development Tax Credit and make it permanent.

Congressman Michael McCaul (R-TX) and Congresswoman Doris Matsui (D-CA), who co-chair the High Tech Caucus, are original co-sponsors of the American Research and Competitiveness Act of 2011, introduced today by Congressmen Kevin Brady (R-TX), author of the legislation, and John Larson (D-CT).

“Many of our nation’s leading businesses rely on these incentives to create some of the most innovative products in the world, create jobs, and drive long-term economicgrowth,” said Congressman McCaul, who founded the High Tech Caucus.  “This will have a direct, positive economic impact on large and small technology businesses alike in our high tech centers such as Austin and Silicon Valley.”

“As Co-Chair of the High-Tech Caucus, I believe our nation’s innovators need certainty when it comes to future investments in research and development,” said Congresswoman Matsui.  “The American Research and Competitiveness Act of 2011 will help spur innovation, investment and job creation in all sectors of our economy.  This bill is particularly important to U.S. clean energy manufacturers and will provide a sense of clarity to attract new investment and increase their manufacturing base.  I look forward to joining my colleagues in moving this legislation this year.” 

The R&D tax credit has proven to be one of the most effect tools to encourage investment and employment in the United States especially in the area of high technology. 

High Tech Caucus Background
Created at the beginning of the 110th Congress, the Congressional High Tech Caucus is a bipartisan forum in which Members of Congress address the concerns vital tothis important industry. The Caucus solicits briefings from industry leaders and experts as well as educators and government officials working on related issues.

The Caucus gives industry leaders, university and private researchers and interested groups the ability to share their ideas, by promoting dialogue, to improve our high tech sector, expand job growth and enhance American competitiveness and innovation in the 21^st Century global economy.

The Congressional High Tech Caucus is focused on working in a bipartisan fashion in order to explore policy solutions on the innovation economy including the following issues, among others:

*Job creation
*R&D tax extension
*Broadband deployment/adoption
*Cyber security
*Internet privacy
*Intellectual property protection/copyright
*Advancement of clean energy and smart grid technologies
*Cloud computing
*Competitive tax reform/repatriation