CBSA continues our work to advocate for U.S. tax policies that enable investment in critical life-saving innovation and to generate strengthened support for restoration of the immediate expensing of research and development expenditures. The bipartisan American Innovation and R&D Competitiveness Act (H.R. 2673), introduced by Representatives Ron Estes (R-KN) and John Larson (D-CT) on April 18, mirrors Senate Bill (S. 866), the American Innovation and Jobs Act of 2023, sponsored by Senators Maggie Hassan (D-NH) and Todd Young (R-IN). These federal bills seek to eliminate the harmful provisions of Section 174 of the Internal Revenue Code that place a significant tax burden on innovation by requiring amortization of all R&D expenses.
CBSA Advocacy
Strengthening incentives for innovation is a longstanding policy priority for CBSA.
Last Congress, CBSA partnered with Biotechnology Innovation Organization (BIO) and sent a letter to Congress emphasizing the negative impacts of R&D amortization and urging…
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