Three days after hosting a job fair attended by thousands, Senator Chris Coons (D-Delaware) introduced the Job Creation Through Innovation Act.
Coons’ office says the bill will help jump start manufacturing in the U.S. and create an environment to help businesses grow and create jobs.
“This bill will help revitalize the manufacturing sector and get Delawareans back to work by investing in the companies already doing cutting-edge work right here, giving those companies the flexibility to expand and grow,” said Sen. Coons.
The measure has five primary components, according to Sen. Coons.
Expanding, simplifying and making permanent the Research & Development Tax Credit.
Creating a new Small Business Innovation Tax Credit.
Creating a new Domestic Manufacturing Tax Credit.
Extending the 1603 Treasury Grants Program.
Investing in the Advanced Energy Manufacturing Tax Credit.
“Each of the aspects… helps our economic recovery in a different way, but they are linked by their focus on encouraging innovation,” Senator Coons said.
Click here to read more about the bill and its five main components.
This is the first bill Sen. Coons has sponsored since being sworn in back in November.