Senate tax provisions include tech industry priority for R&D

Senate Finance Committee Republicans on June 16 released tax provisions for the reconciliation package to implement President Trump’s tax-and-spending agenda, including a change to research and development expensing seen by the technology sector as key to U.S. competitiveness in AI and emerging tech.

“We’re pleased to see the U.S. Senate build off the House-passed reconciliation package with strong language that will cement the United States’ position as the world’s leader in technology, boost the U.S. semiconductor ecosystem, and bolster the...