SAN JOSE -- Nineteen members of the SEMI trade group have signed their names to the list urging Congress to extend the R&D tax credit, which expired on Dec. 31, 2005. 

In a letter sent to Congressional leadership, SEMI urged Congress to pass the current proposal, which would extend the R&D tax credit through 2007 and apply it retroactively.

A copy of the letter is at http://www.investinamericasfuture.org/PDFs/060913letter.pdf.

The current proposal to extend the R&D tax credit is part of the tax extenders legislation, which was attached to the so-called “trifecta” package. The “trifecta” package contains an estate tax reduction and a minimum wage increase. These controversial measures have held up the passage of the widely supported R&D tax credit.

More than 650 companies and associations have petitioned Congress on the bill.