$78 Billion Tax Bill Promises Boost for Defense Industry R&D Spending
Senate Wrangles Over $78 Billion Tax Bill as Defense Sector Awaits R&D Tax Breaks
According to Defense News, the government is close to making a decision on a $78 billion tax bill that could help the defense industry a lot. This bill is all about giving companies a tax break for spending money on research and development (R&D). It used to be that companies could get this tax break right away but then the rules changed and they had to wait longer. Now, they want to go back to the old way of doing things. The House of Representatives already agreed to this but the Senate is having a harder time because they’re dealing with other problems.
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$78 Billion Tax Bill: Restoring Research Credit Amid Uncertain Senate Future – Defense Industry Fights! (PHOTO: google)
$78 Billion Tax Bill Faces Senate Gridlock, Impacting Business and Innovation
Some senators are not happy with parts of the $78 billion tax bill like the rules about giving families money for having kids. They’re trying to figure out a way to make everyone happy. Even though the bill has a lot of support it’s still stuck in the Senate. But some senators are looking for different ways to get it passed. Voting on it by itself or adding it to other important bills that need to be passed soon. Everyone is waiting to see what happens with this tax bill and how it will affect businesses and innovation.
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