February 19, 2006

Taxes and Technology: Be bold on tax credits

It is obvious to anyone who walked through the North American International Auto Show that designing and building cars, trucks and now \"crossovers\" is the most technologically advanced consumer industry on the planet. Period. And we can be proud of the fact that 85% of North American automotive research takes place here in Michigan -- proving our state\'s capacity for innovation. But if it\'s innovation that is going to give Michigan an edge to keep high-skill, high-pay, high-technology jobs here, then we\'d better power our tax policy with a muscle car rather than the motor scooter we have now. So, what\'s the fix? Wayne State University tax professors Anthony Billings and Randolph Paschke proposed that the state provide more generous R&D tax incentives based on research-related labor expenses.

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