ACEC Joins Business Groups on R&D Letter

ACEC and a coalition of business allies urged Congress to take immediate action to support innovation and fix the R&D amortization requirement. Starting in 2022, engineering firms and other innovators could no longer deduct R&D expenses when they occurred and must now deduct them over five years.

More than 1,300 trade associations and companies from a wide range of industries signed the coalition letter asking Congress to reverse the change in how R&D is taxed before the end of the year.