A major trade organization representing manufacturers is pushing for lawmakers to add more favorable tax treatment of research and development costs to legislation designed to boost US economic competitiveness with China.
A bicameral conference committee is working to reconcile differences between House and Senate versions of the competition bill. The National Association of Manufacturers, in a letter released Thursday, detailed a 10-point plan for the conference committee, including the restoration of full and immediate expensing for R&D spending.
Under the 2017 tax law, immediate expensing for business R&D costs expired ...
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