Senator Hassan Discusses Bipartisan Push to Restore Research and Development Tax Deduction at NEMO Equipment in Dover

Senator Hassan Tours the NEMO Facility

DOVER – Yesterday, Senator Maggie Hassan joined top leaders of NEMO Equipment, an innovative outdoor equipment manufacturer in Dover, to discuss the research and development (R&D) tax deduction and other key issues for businesses. Senator Hassan introduced the American Innovation and Jobs Act to restore the R&D tax deduction, and Congress is currently considering a bipartisan tax deal that includes Senator Hassan’s legislation in addition to a bipartisan, tailored expansion of the child tax credit and measures to increase affordable housing.

“I appreciated the opportunity to see the work that NEMO Equipment is doing to develop new inventions in the outdoor equipment industry,” said Senator Hassan. “NEMO Equipment’s creativity highlights the importance of the R&D tax deduction to our businesses. I continue to urge my colleagues on both sides of the aisle to support our bipartisan tax deal that fully restores the R&D tax deduction.”

“We are very pleased to welcome the Senator into our Dover, NH headquarters today and greatly appreciate her commitment to small business, innovation, and the outdoor recreation economy in New Hampshire,” said Cam Brensinger, the CEO of NEMO Equipment. “In particular, we strongly support her sponsorship of the American Innovation and Jobs Act. As an innovation-focused small business, we have depended greatly on R&D tax incentives for investment in talented staff and funding product development. Over the last two decades, these investments have helped NEMO become the best-selling specialty brand of outdoor camping gear in the US. Recent changes affecting how R&D expenses can be deducted will have a significant negative impact on our budgets for this current year. The Senator’s bill would reverse this change and allow companies like NEMO to continue to focus on innovation and maintain America’s global competitive advantage.”

Senator Hassan has long worked to incentivize R&D here in the United States, including leading the bipartisan legislation to restore the full R&D deduction. In 2022, Senator Hassan successfully passed into law her measure to double the separate R&D tax credit for small businesses and startups. Congress is now actively considering a bipartisan tax deal that Senator Hassan helped develop that includes restoration of the full R&D deduction. Senator Hassan has been a key leader in building the coalition that helped secure that deal and she is working to get it over the finish line.

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