U.S. Rep.

Jason Altmire, D-4th, joined with a bipartisan group of lawmaker last week to introduce the Life Sciences Jobs and Investment Act.The legislators said the measure would promote investments in the life sciences by providing targeted and temporary tax relief for businesses willing to increase their American work force.“Investing in life sciences is smart economic policy,” Altmire said. “By investing in research and development in the United States, we are creating good paying jobs and keeping America at the forefront of scientific research.“Tax cuts in these targeted areas will allow scientists and researchers to make investments in the work and hire more employees, just what this economy needs to get moving again.”Altmire said investing in n life sciences in the United States means:• Hiring additional scientists, researchers and other personnel engaged in life sciences research• Making new investments in research at universities and postgraduate institutions, state-sponsored incubators and comparable scientific organizations• Funding new laboratory and related life sciences research facilities.Altmire noted the measure would allow companies engaged in life sciences research to either double their research and development tax credit on the first $150 million invested or repatriate foreign earnings tax free up to that same limit when used exclusively for job creation and research in the U.S.