Obama looks to R&D tax credits expansion

Research and development tax credits could be expanded in the US under plans by its president.

Barack Obama is set to outline details for an expansion of the US current R &D tax credit scheme, to help its economy improve, wrote the FT.

The simplified credit will be increased from 14% to 17% This credit is for companies unable to claim the main credit because R&D has declined as a percentage of sales.

However, a bill is unlikely to be passed before mid-term campaigning begins.

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