Wichita Standard

WASHINGTON – The House of Representatives has passed the Tax Relief for American Families and Workers Act by an overwhelming majority of 357 to 70. This bipartisan tax package includes provisions for immediate R&D expensing, a provision advocated for by Rep. Ron Estes (R-Kansas). Rep. Estes, who has been a strong proponent of R&D expensing, spoke on the House floor to advocate for the bill's passage and highlight the importance of this provision.

In his remarks, Rep. Estes emphasized the need for economic relief for American families and small businesses. He highlighted the high costs of goods and services and burdensome regulations that have strained the economy and the pocketbooks of Americans. Rep. Estes stated, "The Tax Relief for American Families and Workers Act provides the win we need."

Rep. Estes also discussed the significance of the R&D expensing provision included in the bill. He explained that without immediate R&D expensing, the growth rate of R&D spending has slowed. As three-quarters of R&D spending is on wages and salaries, R&D expensing is primarily a jobs issue. Rep. Estes highlighted the concerns expressed by numerous Kansas small businesses regarding the expired provision and expressed his satisfaction with taking a positive step to restore immediate R&D expensing.

The R&D expensing provision advocated by Rep. Estes is part of the American Innovation and R&D Competitiveness Act, a bipartisan bill that has garnered significant support in Congress. Reps. Estes and John Larson (D-Connecticut) reintroduced the bill, which has amassed 218 cosponsors, making it the 12th most cosponsored piece of legislation in the 118th Congress. The bill has also received endorsements from various organizations.

Rep. Estes has been actively promoting the American Innovation and R&D Competitiveness Act. He has delivered remarks on the House floor, testified in a Small Business Committee subcommittee, and participated in discussions during a Ways and Means markup. He has also published op-eds highlighting the benefits of the legislation and the importance of restoring the expired R&D expensing provision.

The passage of the Tax Relief for American Families and Workers Act with the inclusion of the R&D expensing provision is seen as a positive step towards boosting the economy and the workforce. Rep. Estes emphasized the bipartisan agreement on the importance of R&D expensing, stating, "Simply put, Republicans and Democrats agree that this is going to boost our economy and our workforce."

With the House's approval, the tax package will now move to the Senate for consideration. The inclusion of the R&D expensing provision has received widespread support and is expected to garner bipartisan backing in the Senate as well. If passed, this provision could contribute to the restoration of America's dominance in R&D and help secure American jobs.