Today Rep. Ron Estes (R-Kansas) delivered remarks on the House floor about the introduction of his American Innovation and R&D Competitiveness Act.
"Today’s research and development dollars create tomorrow’s jobs, and we need to keep R&D dollars inside our country, where they can help strengthen American businesses and workers," said Rep. Estes.
Download Rep. Estes' remarks on the House floor
On Tuesday, April 18, Reps. Estes and John Larson reintroduced H.R. 2673 – the American Innovation and R&D Competitiveness Act. Read more about the introduction.
Full Remarks:
Thank you, Mr. Speaker. I rise today to introduce the American Innovation and R&D Competitiveness Act.
Our country is filled with talented innovators who put their heart and imagination into new ideas that advance our nation. Through research and development, their incredible breakthroughs can come to fruition.
Unfortunately, the R&D immediate expensing tax provision expired at the end of 2021, removing the incentive to prioritize research and development in the United States. By disincentivizing R&D here at home, American tax policy encourages manufacturing and production to move abroad.
That’s why I’m reintroducing bipartisan legislation that encourages R&D throughout the country.
Sixty-four original cosponsors have joined me and Congressman John Larson to make R&D immediate expensing permanent, cementing this critical tax provision and reestablishing the United States as the leader in research and development.
Today’s research and development dollars create tomorrow’s jobs, and we need to keep R&D dollars inside our country, where they can help strengthen American businesses and workers.
Mr. Speaker, I encourage my colleagues to join me in advancing this critical legislation, and with that, I yield back the balance of my time.
