Walorski Joins Bipartisan, Bicameral Bill to Boost Federal Investment in American R&D, Including Vaccine Research

U.S. Reps. Jackie Walorski (R-Ind.) and Suzan DelBene (D-Wash.) today introduced legislation to provide expanded tax support for American companies that invest in the research and development of new products and technologies. U.S. Sens. Todd Young (R-Ind.), Chris Coons (D-Del.), Pat Roberts (R-Kan.), Catherine Cortez Masto (D-Nev.), Maggie Hassan (D-N.H.), and Steve Daines (R-Mont.) introduced companion legislation in the Senate.

"Our country is facing an unprecedented challenge, but I know we will emerge even stronger because of American innovation and entrepreneurial spirit," Congresswoman Walorski said. "Boosting investment in research and development -- including for new treatments and vaccines -- will not only help in the fight against coronavirus, it will put America's small businesses and manufacturers on the best path to rebuilding our economy."

"COVID-19 is having a devastating impact on our economy and draining resources for future innovations. To help spark the next generation of products and discoveries, and get our economy on track, we need to invest in research and development," Rep. DelBene said. "We need to unlock the full potential of the R&D Tax Credit by making it more accessible to smaller businesses."

"The private sector will help America emerge from the coronavirus pandemic and prepare for future emergencies," Sen. Young said. "Government should work to encourage our small businesses to conduct the research and development needed to produce vaccines and other critical technologies right here in the U.S."

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