Skip to Content
Author: The BCW

Congress Must Restore Full R&D Expensing

The Business Council of Westchester (BCW) is deeply concerned about a tax provision that undermines American innovation.

For decades, American businesses were allowed to deduct 100% of annual research and development (R&D) costs that same year, commonly referred to as “full expensing.” Businesses also had the option to deduct (amortize) these costs over five years.

When the 2017 Tax Cuts and Job Acts took effect, amortization became the single option for businesses when it came to offsetting R&D costs. Businesses across the country began feeling its negative effects, seeing their tax bills balloon, and in many cases struggling to adjust.

During an already tumultuous time in which the U.S. economy hopes to avoid a recession, analysis has shown that this tax code could cost our nation’s GDP tens of billions of dollars and eliminate over 400,000 jobs.

Time is of the essence — Congress should prioritize restoring full expensing for R&D to ensure American innovation and job growth is maintained, rather than stifled.

To read the entire Op-Ed by John Ravitz, BCW Executive Vice President/COO John Ravitz click here.

Similar News Items

The Business Council of Westchester’s Valley Bank Leadership Conversations welcomed New York Senate Majority Leader Andrea Stewart-Cousins on Thursday to share insights into her career and personal journey. Marsha Gordon, the BCW’s president and CEO, moderated the conversation at Kanopi in White Plains, where Stewart-Cousins recounted her diverse career path, including roles in customer service, […]

Read Article

If there is one subject virtually all business leaders agree on, it is that New York State’s energy landscape is changing. The challenge is that the paths forward are numerous, confusing and often are at odds with the practical realities of implementation costs and technological challenges. The Business Council of Westchester has spent the last […]

Read Article

The Business Council of Westchester’s Westchester Innovation Network (WIN) continues its mission of fostering innovation by facilitating a match between former WPHS graduate and recent Sacred Heart University graduate Michael Berlingo and seasoned executive coach Sunni Lampasso. This collaboration brings together the youthful energy and vision of Berlingo, CEO of Starteryou, with the wisdom and […]

Read Article

Become A Member

Join the county’s largest and most influential business organization today.

The Business Council of Westchester is committed to helping businesses market, learn, advocate, and grow. Over 80 events and programs are offered every year, giving our members ample opportunity to connect and meet with businesses representatives in the Westchester community and beyond.
Back to top