The US Senate has approved legislation that includes tens of millions of dollars in new investments for Dover Air Force Base and the Delaware National Guard.
Senate Appropriations Committee member Chris Coons said the bill includes more than $83 million in investments for Dover Air Force Base. “These additional resources will enable Team Dover to construct a new hangar, enhancing the quality of maintenance on Dover’s airplanes, and renovate two schools, improving the quality of life for families stationed at the base,” said Senator Coons.
Coons had a busy week, joining with Republican Senator Pat Roberts of Kansas in introducing the Support Small Business R&D Act, a measure designed to help startups and small businesses take advantage of the newly available research and development tax credit.
According to Coons, the bill would require the Small Business Administration and Internal Revenue Service to partner to develop educational and training materials for entrepreneurs who invest in research and could be eligible to use the R&D credit to offset their expenses. These materials would be provided to SBA programs around the country and business development entities that partner with SBA programs, such as universities, business accelerators, and business incubators.
At the end of 2015, Congress passed legislation that not only made the R&D credit permanent but also expanded the credit to allow more startups and small businesses to access it.
The inspiration to expand the credit was drawn from a proposal by Senators Coons and Roberts known as the Innovators Job Creation Act. However, despite these changes to the credit, many small businesses do not have the information necessary to take advantage of this opportunity to offset their research costs. The Support Small Business R&D Act is designed to address that knowledge gap.
