Tax Relief for Businesses Gains Ground in the House

by Stephanie Buka, Government Affairs Manager Jan 25, 2024

PRINTING United Alliance welcomed the news of a bipartisan federal tax proposal that would restore “The Big 3” incentives for businesses, including immediate deductions for domestic research and experimentation costs, Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) measured limitations for interest deductions, and restoration of full bonus depreciation. Senate Finance Chair Ron Wyden (D-OR) and House Ways and Means Chair Jason Smith (R-MO) established the tax proposal under H.R. 7024,

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