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Taxing Innovation in Microelectronics will Slow Advancements in Artificial Intelligence, Cellular Technology, Machine Learning and More

Taxing Innovation in Microelectronics will Slow Advancements in Artificial Intelligence, Cellular Technology, Machine Learning and More

Since 1954, our economy, job quality, and national security have benefitted from the investment in and adoption of new technologies that have been partially fueled by companies being allowed to deduct research and development (R&D) expenses from their current year’s income. In 2022, the law that made this possible expired and Congressional action is needed immediately to restore long-standing incentives promoting American technological development.

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