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Research and Development (R&D)

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OBBBA business expensing state tax codes 2025 One Big Beautiful Bill Business Expensing State Tax Conformity Questions

The OBBBA Gets Expensing Right. States Should Follow Suit.

However states choose to respond to other tax provisions of the One Big Beautiful Bill Act, they should conform to the pro-growth provisions, which represent a marked improvement in the corporate tax code.

12 min read
The Economic and Distributional Impact of the Trump Administration’s Tariff Actions Economic Impact of Tariffs, trade tensions, trade, Trump china tariffs, trade tensions

Trump’s Next Task Is Turning ‘Beautiful Bill’ Into Economic Boon

The administration has a strong desire to boost manufacturing investment and there are many provisions in the new tax bill that support this aim. But the administration’s erratic trade policy is driving up the costs of key inputs that manufacturers rely on to build things in the US.

patent box regimes in europe, 2025 Intellectual Property IP Tax in EU R&D tax policies data

Patent Box Regimes in Europe, 2025

The aim of patent boxes is generally to encourage and attract local research and development (R&D) and to incentivize businesses to locate IP in the country. However, patent boxes can introduce another level of complexity to a tax system, and some recent research questions whether patent boxes are actually effective in driving innovation.

4 min read
One Big Beautiful Bill Pros Cons

The Good, the Bad, and the Ugly in the One Big Beautiful Bill Act

The One Big Beautiful Bill Act makes many of the individual tax cuts and reforms of the TCJA permanent. It improves upon the TCJA by making expensing for R&D and equipment permanent. However, for the most part, it does not include further structural reforms, and instead introduces many new, narrow tax breaks to the code, adding complexity and raising revenue costs.

7 min read

Tax Subsidies for R&D Expenditures in Europe, 2025

Many countries incentivize business investment in research and development (R&D), intending to foster innovation. A common approach is to provide direct government funding for R&D activity. However, a significant number of jurisdictions also offer R&D tax incentives.

4 min read
republican tax bill, budget reconciliation

Where the Republican Tax Bill Falls Short

The House of Representatives just passed President Trump’s “One Big Beautiful Bill,” marking a critical step in the Republican tax agenda. At first glance, the bill might appear to complete the legacy of the 2017 Tax Cuts and Jobs Act (TCJA). But it falls short of emulating the TCJA’s core strengths in two key respects: it doesn’t prioritize economic growth, and it doesn’t simplify the tax code.

Improving Tax Treatment of R&D Would Boost Productivity and Growth US Research and Development Tax Treatment Trump Tax Cuts and TCJA Extension and Reform

Improving Tax Treatment of R&D Would Boost Productivity and Growth

As Congress debates expensing and other policies impacting business investment, lawmakers should consider the importance of business investment in research and development (R&D) as a driver for economic growth. Recent studies suggest that the economic benefits of R&D spending are even greater than previously understood.

7 min read
2025 Tax Reform TCJA Offsets Budget Offsets

Picking the Right Budgetary Offsets Key to Tax Reform Success

In a perilous economic and fiscal environment, with instability created by Trump’s trade war and publicly held debt on track to surpass the highest levels ever recorded within five years, a lot rides on how Republicans navigate tax and spending reforms in reconciliation.

6 min read