Join CBSA in asking Congress to support leading-edge health innovation by American life sciences companies. We are asking Congress to remove a “tax on innovation” by restoring the immediate expensing of research and development/experimentation expenditures. R&D is critical to the development of innovative breakthroughs, especially in the life sciences, and we must ensure U.S. tax policy enables and encourages investment in this innovation. The American Innovation and R&D Competitiveness Act of 2023 (H.R. 2673) (S. 866) would fix the R&D tax amortization issue, but the expected November 17th government funding bill is possibly the last, best opportunity for a Section 174 fix to pass before 2024.
The Issue
- Research and development (R&D) is critical to the development of innovative breakthroughs in the life sciences industry.
- R&D represents a major, necessary expense for life sciences companies to develop novel, safe, and…
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