BIO applauded House of Representatives for making Research and Development Tax Credit permanent by passing American Research and Competitiveness Act of 2015 (H.R. 880). Citing its "vital role in supporting the search for cures and breakthrough medicines," BIO's Jim Greenwood voiced strong support for making R&D Tax Credit permanent part of tax code not subject to yearly extensions. Cited benefits included investment encouragement for research-intensive businesses in diverse industries.