R&D Coalition Urges Congress to Revive Expensing Break This Year

Congress can’t end 2022 without reviving an expired corporate tax break on research and development, a letter from the R&D Coalition said.

If amortization of research expenses is required, it will reduce R&D spending and lead to a loss of more than 20,000 R&D jobs in the first five years, the letter warned, citing a study conducted for the coalition.

Lawmakers sought to restore the tax break, which expired at the end of 2021 as part of the 2017 tax law. It allows companies to write off all research costs in the year they were incurred, instead of ...