The Texas Legislature heeded the call of business leaders to permanently extend and expand the state’s research-and-development tax credit, which is estimated to lead to the creation of 113,000 jobs and generate nearly $139 billion for the state’s gross domestic product over the next decade.

Thanks to a flurry of legislative activity that took place in April, Tax Day could be less burdensome in the future for residents of a number of states.

Texas legislators should support innovation Research and development (R&D) fuel innovation, and innovation powers the Texas economy.   TTARA President Jennifer Rabb authored this op-ed with Dr. John W. Diamond, who directs the Center for Tax and Budget Policy at Rice University’s Baker Institute, laying out the economic benefits that R&D creates in Texas. The…

Innovation makes workers more productive and leads to new businesses that pay taxes and create jobs. But while the Lone Star State is renowned for its strong economy, investment in Texas research and development (R&D) remains distressingly low.