Key House Democrat Says Tax Break Extension for R&D to Pass Soon

House Ways and Means Chairman Richard Neal says he believes Congress will renew a series of expired tax benefits this year, including a deduction for research and development costs worth about $30 billion a year to corporations.

• Neal says he’s waiting on Republicans to negotiate a final deal on the package of tax items, which also include credits for renewable energy and other miscellaneous industries
  • NOTE: The tax items under discussion include an extension for a more generous R&D expense write-off that was initially passed in President Donald Trump’s tax law, in 2017.
• “We think we can still move that ...