Infographic Innovation
The U.S. faced a full blown RECESSION as a result of unchecked inflation, increased global competition and a dire energy crisis.
UNEMPLOYMENT RATES skyrocketed to 10.8% with the AUTO INDUSTRY reaching a whopping 24%Congress had a solution with SECTION 41 of the U.S. Tax Code:
THE R&D TAX CREDIT The intent was to stimulate ECONOMIC GROWTH and bring JOBS back to the U.S.The auto industry’s unemployment rate dropped to PRE-RECESSION LEVELSThe country’s overall unemployment rate dropped BACK DOWN to 7%The U.S. faced ANOTHER RECESSION due to the bursting of the “dot com” bubble, which led to a 6.5% UNEMPLOYMENT […]