51�Թ���

What’s Going On

The challenge: U.S. manufacturers, who drive more innovation than any other sector, face a harmful tax change that will drastically hinder R&D across the industry, threatening thousands of jobs and critical innovation that upholds America’s economy and national security.

What we’re doing about it: The 51�Թ��� is rallying manufacturers to urge Congress to to support two bipartisan R&D bills that have been introduced in the House and Senate: the American Innovation and R&D Competitiveness Act (H.R. 2673), introduced by Reps. Ron Estes (R-KS) and John Larson (D-CT), and the American Innovation and Jobs Act (S. 866), introduced by Sens. Maggie Hassan (D-NH) and Todd Young (R-IN).

Our Message

In Washington: The 51�Թ��� is rallying America’s business community in our direct engagement with congressional leadership on the need to repeal the harmful R&D tax change. Read the 51�Թ���’s most recent letters to Congress:

The 51�Թ��� rallied more than 1,300 companies and business associations, on Congress to protect businesses’ ability to immediately deduct R&D expenses, finance job-creating investments through a pro-growth interest deductibility standard and fully deduct capital equipment purchases.

The 51�Թ���’s most recent to congressional leadership, with support from more than 400 companies and business organizations, urges for the repeal of the harmful R&D amortization provision in order to ensure that the tax code continues to support innovation. The 51�Թ��� letter warns that failing to reverse the amortization requirement “will cost well-paying jobs and reduce future innovation-directed R&D.”

The 51�Թ���’s September to members of the Senate Finance Committee and the House Ways and Means Committee reinforces that Congress can provide much-needed certainty by the end of 2022 by reversing the change to the tax treatment of R&D, helping to��bolster job creation in U.S. manufacturing and secure the industry’s competitiveness on the world stage.