USA’s R&D tax credit bill moves forward
Legislation restoring R&D tax deductions has advanced in the US House of Representatives’ Ways & Means Committee.
In a 40-3 bipartisan vote, the House Ways and Means Committee on Friday approved legislation that would restore the R&D tax credit.
Under the proposal, R&D spending would be 100% tax deductible through 2025, reversing a change (as of 2022) requiring R&D expenses to be amortized over five years.
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