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In 2019, American corporations invested more than $8 billion in Chinese Research and Development (R&D). These companies were rewarded with tax breaks because the U.S. tax code does not distinguish where companies make their investments.

U.S. Senator Marco Rubio (R-FL) introduced the Securing America’s Research and Development Advantage Act, which strengthens and preserves crucial tax benefits for companies that invest in America’s future, while also ensuring American companies are rewarded for investing in the U.S., not foreign adversaries like China and Russia.

• “American companies shouldn’t be getting tax breaks for choosing to do business in Russia and China. The Securing America’s Research and Development Act will ensure the United States maintains the competitive edge for the development of new technologies.”  – Senator Rubio 

Looking forward … Senator Rubio will continue to ensure that U.S. tax dollars are working for America’s best interest.

Want more information? 

• May 2022: Rubio, Colleagues Introduce Bill to Prevent U.S. Research From Being Used to Benefit the PLA
• March 2022: Rubio Joins Bipartisan Push to Expand R&D Tax Credit for Startups and Preserve Full R&D Expensing