KERRIGAN IN DC JOURNAL: Congress Must Fix R&D Tax Credit for Small Businesses

By at 14 December, 2022, 8:55 pm

In a recent DC Journal Inside Sources Op-ed, SBE Council president & CEO Karen Kerrigan writes that challenging economic conditions and headwinds continue to bear down on small businesses: “That is why Congress must identify practical solutions to help entrepreneurs through this challenging economic period, and beyond. One solution is to restore immediate expensing for research and development (R&D) during the Lame Duck session of Congress.”

In the piece, Kerrigan points out that the tax measure has helped to fuel hundreds of billions of dollars in R&D investments each and every year, and “by extension has powered U.S. innovative leadership in the global marketplace.” This should move Congress to “not only restore the credit but improve it so that more startups and new firms can effectively utilize it.”

She notes strong bipartisan support for the measure, with Senators Maggie Hassan (D-N.H.) and Todd Young (R-Ind.) working to ensure R&D expensing is restored. Kerrigan adds: “Again, the immediate expensing of R&D investments has remained a long-term policy priority – through Democratic and Republican administrations alike – and right now is an ideal time to restore this effective policy.”

Read the full Op-ed here.

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