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 NAM 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).
Take action below. Together, we can help to reverse this tax change, encourage R&D investment, support job growth and reinforce the industry’s competitiveness on the world stage.
In Washington: The NAM 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 NAM’s most recent letters to Congress:
|The NAM’s most recent letter 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 NAM letter warns that failing to reverse the amortization requirement “will cost well-paying jobs and reduce future innovation-directed R&D.”|
|The NAM’s September letter 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.|
“Protecting R&D” Series: As part of our advocacy, the NAM is highlighting member stories that reinforce the importance of reversing the harmful R&D tax change. Can we share your story? Please contact NAM Senior Director of Tax Policy David Eiselsberg.
Click here to view all NAM tax stories. The latest:
Become an NAM Ambassador
Become a leading voice on this issue and let the NAM help elevate your company’s advocacy in our collective effort to reverse this harmful tax change.