.Dear Friend,
The Ways and Means Committee made significant progress toward passing the One Big, Beautiful Bill on Wednesday. After about 18 hours of debate, I voted to advance the tax provisions as part of the full reconciliation bill. The Ways and Means legislation extends provisions of the 2017 Tax Cuts and Jobs Act and prevents Kansans from having to pay an average of $2,200 more in taxes.
I was happy that several of my priorities were included in the reconciliation bill, including the immediate expensing of research and development, tax parity for music creators and biofuel producers, and provisions that promote global competitiveness. Despite media hype, there is broad bipartisan support to extend several TCJA provisions and make them permanent. Research and development expensing is one of the provisions with broad bipartisan support.
Immediate expensing of research and development benefits Kansas innovators, manufacturers and workers. Three-quarters of R&D costs support wages and salaries, which is why the expiration of the provision is especially harmful to job growth. Not only does R&D promote innovation, but it also supports American jobs.
The Washington Examiner recently published my op-ed about expanding the research and development tax provision. You can read it here.