A bipartisan Senate duo has revived an effort from last Congress to reverse a change to the research and development tax credit and expand it to apply to more startups and small businesses.
The reintroduced bill, from Sens. Maggie Hassan (D-N.H.) and Todd Young (R-Ind.), would roll back a provision of the 2017 tax law that, starting in 2022, requires companies to amortize their R&D costs over five years rather than the year they are incurred.
“When American companies invest in research and development to develop new products and technologies, it stimulates our economy, promotes job growth, and helps ...
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