Federal Bill Aims to Restore R&D Competitiveness

On Capitol Hill, bipartisan legislation has been introduced to allow businesses to again fully deduct R&D expenses in the year they are made, while also expanding the refundable R&D tax credit.

Currently, the U.S. and Belgium are the only developed countries that require amortization of R&D expenses, while China provides a 200% “super deduction.” 3/20/2023