U.S. House Passes R&D Tax Fix
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On January 31, the U.S. House of Representatives passed the Tax Relief for American Families and Workers Act by a broad, bipartisan vote of 357-70. A critical part of this legislation would restore the R&D tax deduction, making R&D expenses deductible through 2025. CLS, in coordination with a number of our partners, has been advocating for the passage of legislation that would address this issue since it was created in the 2017 tax law. We will continue to urge the Senate to pass this legislation and are circulating a CEO letter of support to our California senators, encouraging them to move this bill quickly.
If you would like to include your CEO on the letter, please email [email protected] and [email protected]. The deadline to sign is Wednesday, February 21.