Congress · 117th Congress
House Ways and Means tax plan runs into Senate chopping block
A change to how companies count research and development expenses, which would’ve undercut their ability to deduct that spending, would be pushed off to 2026.
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A change to how companies count research and development expenses, which would’ve undercut their ability to deduct that spending, would be pushed off to 2026.
As a result, CBO projects a cumulative deficit from 2026 to 2030 that is $4.3 trillion larger than the Administration’s estimate,” the report says.