Congressman Rush D. Holt (D. NJ) introduced a bill, H.R. 119, today to permanently extend the § 41 Credit for Increasing Research Activities, commonly known as the R&D tax credit. The R&D tax credit incentivizes capital investment in innovation across the American economy, including the manufacturing software development industries, and all disciplines of engineering. Most recently, the American Taxpayer Relief Act of 2012 retroactively renewed the R&D credit through December 31, 2013, and also made permanent many other provisions of the tax code small businesses have come to rely upon.