Congress needs to fix the R&D amortization problem now and we need your help.
ACEC is making a final push to demand that Congress provide relief for engineering firms hurt by the new R&D amortization mandate. Support continues to build for bipartisan House and Senate bills (H.R. 2673 and S. 866) to repeal the amortization requirement, but it is imperative that Congress act before the end of the year!
Because of a change in tax policy, firms that traditionally could deduct R&D expenses in the year they occur must now amortize those expenses over five years. This has created a significant tax burden for many firms and is causing cash flow problems. ACEC member firms report that they are putting on hold plans to hire, grow, and invest because of the higher tax bills they are paying.
ACEC is working with coalition allies to make a final push for relief on this critical problem. Congress needs to understand the urgency of fixing R&D amortization before the end of the year. Even if you contacted your Members of Congress earlier this year, we need you to take action again.