Aerospace companies are a big source for good paying jobs in California, but the recent budget proposal in Sacramento hurts these critical employers.
Lawmakers in the state approved a plan to dramatically reduce Research and Development (R&D) Tax Credits and the Net Operating Loss (NOL) provisions. Now, these jobs are at risk. This is the last thing the state needs as it tries to recover from the economic downturn caused by the COVID-19 pandemic.
Investing in companies that employ Californians, spur economic activity, and move some of our nation’s most important industries forward is a no-brainer.
It’s past time that lawmakers support R&D tax credits and the use of NOL provisions.