Close this search box.

Getting climate, energy & environment news right.

The bipartisan tax bill contains a critical fix to spur American innovation

John R. Dearie and Jennifer Grundy Young write in The Hill about the bipartisan tax bill that could accelerate American innovation.

The C3 Take
  • Earlier this year the House of Representatives passed a bipartisan tax bill that will go a long way in advancing energy innovation in the U.S. The bill now sits in the Senate.
  • The bill would restore immediate expensing for research and development expenditures, which would allow companies to fully deduct these expenses in the year that they occurred rather than over a lengthy depreciation schedule.
  • This fix would reduce the cost of investing in R&D and make the U.S. more competitive with China, who offers a super deduction for R&D.
  • Immediate expensing is a pro-growth policy that benefits the economy and environment.

“The effort to restore first-year expensing of research and development investments is about more than tax rates and federal tax receipts. It is central to our nation’s long-term economic competitiveness and ability to win the future in a world in which power is defined in terms of technology and innovation.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

Copyright © 2020 Conservative Coalition for Climate Solutions

Subscribe to our exclusive email designed for conservatives who care about climate.

Help us promote free market solutions for climate change.

5 Incredible Ways Economic Freedom Helps the Planet.

Sign up for our newsletter now to get the full list right in your inbox.

Thank you for signing up

Help us promote sensible solutions for both planet and prosperity.

Download Now