Judd Legum

@JuddLegum ↗

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Last Checked Dec. 7, 2022

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Mon Nov 21 18:51:54 +0000 2022

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Judd Legum @JuddLegum

3. 178 companies, including @ATT, signed a letter to Congressional leaders warning of "grave harm" if the change to R&D deductions isn't repealed How much did AT&T pay in federal income taxes last year? NEGATIVE 4.1% https://t.co/muDzKztiA2 — PolitiTweet.org

Posted Nov. 21, 2022

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Judd Legum @JuddLegum

2. It's a technical change that requires corporations to spread out their tax deductions for R&D expenses over 5 years instead of deducting the full expense immediately Corporate profits are at historic highs Repeal would cost $131 billion https://t.co/muDzKzKTYC — PolitiTweet.org

Posted Nov. 21, 2022

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Judd Legum @JuddLegum

4. There is little evidence that the R&D tax deduction meaningfully increases R&D spending or useful innovation. Rather, "[e]vidence suggests that a significant portion of increased R&D spending may be driven by reclassification of existing activity." https://t.co/muDzKztiA2 — PolitiTweet.org

Posted Nov. 21, 2022