Issue Position: Jobs

Issue Position

Chris believes that small businesses offer the best opportunity for job growth and that we must put in place economic policies that spur innovation and job creation within those companies. He supports tax cuts for small businesses and working families. He introduced the Made in America Act to keep American companies their jobs and businesses in the America, instead of providing tax breaks to send them overseas. American companies and workers are the best in the world and Chris has no doubt that we are beginning to break through this recession.

The Made in America Act reinstates the Research & Development tax credit that expired in December 2007, and makes it permanent. This will encourage companies to keep their R&D divisions on American soil and prevent other countries from enticing our manufacturers with tax incentives. It raises the amount of refundable expenses that can be claimed under the tax credit from 12% to 20% and eliminates a complicated calculation that previously made claiming the credit difficult. Any expenditures under a certain price cap may be claimed fully deductible for the year it was put into service. The Made in America Act allows purchasers of capital equipment to expense the entire purchase up to $250,000, instead of $125,000, and increases the phase out threshold for total capital expenditures from $500,000 to $800,000.

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