R&D incentives excluded from McCain "corporate welfare commission" legislative proposal.
Executive Summary
R&D EXPENDITURES WOULD BE EXEMPTED FROM FEDERAL SUBSIDY REVIEW under legislation introduced Jan. 28 by Sen. McCain (R-Ariz.) and a bipartisan group of eight co-sponsors. The "1997 Corporate Subsidy Reform Commission Act" (S 207) would "establish a nine-member independent commission to comprehensively review, reform and terminate inequitable federal subsidies to profit-making industries, and to establish Congressional procedures to consider the commission's proposal."