Convert unneeded R&D tax break into investment in STEM university majors
HUNDREDS of Washington companies engaged in research and development in technology-related fields pay a reduced business-and-occupation tax. This break was designed to create a healthy R&D climate in our state and spur companies to maturity.
The side benefit, of course, is the tax break supports good-paying jobs.
Most companies in the state receiving the tax reduction should retain it. It serves a useful purpose. But larger firms getting thousands or millions of dollars that do not really need an assist should join an effort to dedicate that money to a better idea: a private fund supporting new science, technology, engineering and math (STEM) slots at state colleges and universities.