Industry groups representing automakers and suppliers are urging Congress to restore a federal tax break that would allow for the "full and immediate" expensing of domestic R&D investments.
In a letter sent Wednesday to House and Senate leadership, five trade associations, the Alliance for Automotive Innovation, American Automotive Policy Council, Autos Drive America, MEMA and the Truck and Engine Manufacturers Association — argue it is critical for Congress to "act as soon as possible" to restore full R&D expensing, which expired in 2021.<
