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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."
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