Making R&D Great Again

August 12, 2019

The United States used to lead in both areas. In the 1960s, the federal government invested more in research than all other governments and foreign businesses combined. No wonder the United States dominated the world in technological innovation. The United States also led in tax incentives for innovation, with President Reagan signing into law the world’s first R&D tax credit in 1981. As late as the Clinton Administration, the United States led the world in R&D tax generosity.