Friends of Manufacturing

Passage of Senate Tax Bill Puts R&D Tax Credit in Doubt -- Update

|

Senate Republicans, in their final push last week to pass a sweeping tax bill, may have undermined a research-and-development tax credit many companies count on to encourage innovation. 

Late Friday, just hours before the Senate voted 51-49 to pass the bill, which included about $1.4 trillion in tax cuts, Republicans decided to preserve the corporate alternative minimum tax instead of repealing it as planned. The change helped them provide money for other priorities lawmakers demanded to include in the legislation.

Full Article

Back