Page 30 - Innovation Delaware 2018

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U.S. SEN. CHRIS COONS BRINGS DELAWARE’S Innovative Spirit TO THE FEDERAL LEVEL
While Delaware tax credit to the benefit The senator also has served as an
develops state-
level initiatives to promote innovation, its
junior senator, Democrat Chris Coons, is doing the same in Washington. In 2015, he joined with U.S. Senators Pat Roberts,
a Kansas Republican, and Chuck Schumer, a New York Democrat, to sponsor the Innovators Job Creation Act.
While that measure itself did
not become law, its provisions were incorporated into tax legislation passed by Congress at the end of 2015. The provisions broaden the federal R&D
startups to access the same R&D tax credit currently accessible to larger companies become law. Our tax code will finally encourage job-creating R&D for companies of all sizes,” Coons says.
U.S. SEN. CHRIS COONS
of small businesses and startups by allowing them to claim the credit against their liability for employment taxes or against payments due under the Alternative Minimum Tax (AMT).
“I’m thrilled to see two provisions from my very first bill that will make it easier for
important connector and facilitator for Delaware businesses. For example, he successfully advocated for Department of Defense funding to support a University of Delaware professor, Dennis Prather, in studying and developing photonics technology. The technology will help U.S. service members “see” through challenging environments — including fog and dust storms — as well as locate weapons through clothing and other barriers. Prather is close to getting the technology into early production and has moved his business, Phase Sensitive Innovations Inc., into a Newark industrial park.
As the only U.S. senator with a degree in chemistry, Coons is acutely
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