Staring in 2022, a provision in the 2017 Tax Cuts and Jobs Act will require companies to start amortizing their R&D investments over five years instead of expensing them in the same year they incur the costs. Congress should repeal the rule before it takes effect. Otherwise, companies will do less research in the United States, jobs will be lost, and U.S. competitiveness will suffer.
Science and R&D
January 20, 2020
There is now a crisis of regional imbalance at a continental scale that is throwing off disturbing side effects that cry out for response.
January 14, 2020
ITIF hosted an expert panel discussion featuring European Commission, Deputy Director-General for Research and Innovation, Signe Ratso, on the thinking and inspiration behind the European Innovation Council, how it will work in practice, and how it is expected to change the face of European innovation over the next decade.
January 6, 2020
Fact of the Week: Switzerland Increased its Public R&D Investment by 79 Percent Between 2008 and 2016, Nearly 4 Times More Than the United States
The has been a growing disparity across the globe between the governments that are choosing to prioritize innovation and those that aren’t. Recent analysis reflects this, comparing the growth of public R&D funding between 2008 and 2016 across eight major countries.
December 11, 2019
ITIF and the Brookings Metropolitan Policy Program presented a proposal for a national competition to select metropolitan areas to receive a decade-long range of robust policy supports, enabling their transition into self-sustaining, globally competitive innovation hubs.
December 9, 2019
Fact of the Week: A 10 Percent Increase in Public Investment in Defense R&D Increases Private R&D Investment by 4.3 Percent
Defense spending is the main source of public R&D investment in the United States, totaling $78 billion in 2016. A new study examines the impacts of defense R&D investment by leveraging the dramatic increases in defense R&D investment across the OECD in the years following 2001.
December 9, 2019
The federal government should take aggressive steps to spur the development of more tech hubs in America’s heartland by identifying promising metro areas and helping them transform into self-sustaining innovation centers.
November 4, 2019
Fact of the Week: Large, Profitable Firms in France Receive Tax Subsidies of 43 Percent on R&D They Perform, Which is More Than 8 Times Greater Than U.S. Subsidies
R&D tax incentives are key to fostering innovation, effectively providing needed public support for research without sacrificing private-sector market incentives. According to a new report by the OECD, the United States is well behind much of the rest of the world in this respect.
October 23, 2019
Nearly 25 percent of all R&D expenditures in China come in the form of government subsidies to firms. It would be ideal if China dramatically reduced these innovation subsidies so American workers in innovation industries would face a level playing field, but the chances of that happening are slim to none. It is time for the federal government to step up its game and provide significantly more support for industrial R&D.
October 21, 2019
The United States continues to fall further behind world leaders in funding for university research. To reverse course, it should increase support by $45 billion per year and provide stronger incentives for businesses to increase their investments.
October 18, 2019
ITIF filed comments responding to the Office of Science and Technology Policy’s request for information on the bioeconomy.