Washington, Oct. 16 -- Congressman Chris Pappas issued the following press release:
Congressman Chris Pappas (NH-01) joined a bipartisan letter to Treasury Secretary Scott Bessent expressing concerns about reports that Meta is seeking to use the federal research tax credit for its data center buildout. The bipartisan letter emphasized that any claims by Meta for the federal tax credit must meet the clearly defined requirements for qualified research and experimentation.
Congress established the research tax credit in 1981 amid concerns about declining private-sector research investment and U.S. technological competitiveness. By reducing the cost of qualifying research, the credit is meant to encourage businesses to pursue projects involvin...