Research and Development Harnesses America’s Spirit of Innovation
Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) spoke on the House floor today in favor of H.R. 880, the American Research and Competitiveness Act:
McCarthy’s full remarks are below, or watch them online here.
“I thank the gentleman for yielding.
“Mr. Speaker, thank you, and I want to take a moment to thank the gentleman from Texas for his leadership.
“You know, I listen to a lot of speakers on this floor—what is the cost not to invest in the future? Four out of ten graduates out of college today can’t find a job. How do you pay for that? You look towards the future.
“I’ll tell you, many in this country have followed the innovators in our history. Mr. Speaker, one happened to be Steve Jobs. Steve Jobs said, ‘Innovation distinguishes between a leader and a follower.’ You know, that’s true with people and it’s also true with countries. America leads because we take the principles of our past and we apply them to a changing future. We are the pioneers that always look to the next frontier—ready to challenge what others believe are impossible.
“Innovation is key to our leadership and it is essential to our economic prosperity in an increasingly competitive 21st century world. What Washington needs to understand is that the greatest innovations don’t come from Washington. It comes from the people.
“You know, it reminds me of what was going on in the early 1900s in this country. Washington wanted to figure out the invention of flight. So the wisdom of government said, let’s just pay Samuel Langley to discover how to fly. But we all know what came true. We watched two brothers who owned a bicycle store take to the sky from a small field in Kitty Hawk, transforming what we know of today.
“The R&D tax credit harnesses that American spirit. It makes space for the American people to lead us into the future. When Ronald Reagan first signed the R&D tax credit into law, he knew it would grow our economy and make America strong because it put our faith in the country’s greatest assets: it’s people and the future.
“Mr. Speaker, today we are voting to make this tax credit permanent. I think that’s very good policy. I also think it shows what our values are. It shows that it’s everyday heroes who can lead to the future of tomorrow.
“So I urge my colleagues to vote for this bill. And I urge my colleagues to give the American people the tools to move America forward.
“I yield back.”