Sacramento, CA – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, today joined the CalChamber in applauding California Governor Gavin Newsom’s proposed 2022-2023 state budget, including restoring the Research and Development Tax Credit and the Net Operating Loss Deduction.
The following can be attributed to TechNet President and CEO Linda Moore:
“Restoring the Research and Development Tax Credit and the Net Operating Loss Deduction will help California companies remain global leaders in innovation and ensure the state’s economy continues to grow and create jobs. We applaud Governor Newsom for including these as part of his proposed 2022-2023 state budget.”
The following can be attributed to CalChamber President and CEO Jennifer Barrera:
“We also appreciate the Governor working with CalChamber to restore tax credits, including the Research and Development tax credit and the ability to utilize net operating losses. The $5.5 billion to restore these tax incentives and tools will spur innovation and create high-paying jobs in all regions of California in many diverse economic sectors.”