Arlington, Va. (June 14, 2023) – The Aerospace Industries Association (AIA) President and CEO Eric Fanning today issued the following statement on the House Ways and Means Committee markup including a reversal of the harmful research and development (R&D) tax change.
“AIA applauds the House Committee on Ways and Means for recognizing the important role the tax code plays in incentivizing the private sector, and particularly the aerospace and defense industry, to do what it always does best—research and develop the next generation of technologies to keep the warfighter and everyday Americans safe and maintain our global economic competitiveness. We urge Congress to take up this critical legislation to restore the full tax deductibility of R&D expenses, protect American jobs, and spur the innovation needed to ensure America’s future competitiveness.”
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