Section 174 allows businesses to deduct their domestic R&D expenses.
In 2017 Trump made businesses have to amortize these expenses over 5 years instead of deducting them, starting in 2022 (it is common for an administration to write laws that will only have a negative effect after they're gone). This move wrecked the R&D tax credit. Many US businesses stopped claiming R&D tax credits entirely as a result. Others had surprise tax bills.
Trump's second term work is now to undo the disaster he caused (S.O.P.). Congress has reversed the amortization rule and businesses can again deduct R&D expenses immediately.
This is a good thing rolling back a bad thing. The bad thing might have been responsible for layoffs a few years ago, but it will have only positive impact on 2025.
Has anyone? Other than anecdotes here and there?
* https://www.perplexity.ai/search/what-research-is-there-into...
* https://www.perplexity.ai/search/what-research-is-there-into...