R&D Lobbying Pays Off for Companies
Tech and drug giants stand to save billions of dollars of year from a provision in the new GOP tax law allowing for immediate expensing of domestic research and development costs, after lobbying Congress hard for the change.
The provision has been one of the biggest priorities for business groups for several years, and full R&D expensing has enjoyed some bipartisan support.
Companies and business groups argue the policy is needed to spur US investment and help companies compete globally, and they made sure Congress knew about its importance. Federal lobbying disclosures reveal that ...