Renew R&D and Other Tax Breaks, Industry Pleas as Shutdown Nears

Big business and trade groups are calling for swift congressional action Thursday to reinstate business tax breaks as lawmakers face a battle over how to avoid a government shutdown ahead of a Nov. 17 deadline.

“We urge all members of Congress to work together by year’s end to seamlessly reinstate immediate R&D expensing, restore a pro-growth interest deductibility standard and extend full expensing,” the National Association of Manufacturers wrote in a letter sent to House and Senate leaders, signed by a slew of big names in corporate America.

The letter, signed by about 1,300 companies and trade groups ...