Advocating for life sciences R&D


In Congress last week, the House Ways and Means Committee advanced legislation to restore the immediate deduction for research and development expenses, a key priority that CLS has been advocating for innovators. This measure, included with other tax provisions, may see action in the full House of Representatives soon, and tees up bipartisan and bicameral tax policy negotiations that could advance this policy crucial to R&D-intensive sectors like the life sciences later this year. Currently, the American Innovation and R&D Competitiveness Act, H.R. 2673, has 57 Republican and 57 Democratic cosponsors.