Wichita Standard

Organizations and innovators are expressing their support for the American Innovation and R&D Competitiveness Act. The legislation, introduced by Representatives Ron Estes (R-Kansas) and John Larson (D-Connecticut), aims to reinstate immediate research and development expensing, which expired in 2022. The bill, co-sponsored by Representatives Rudy Yakym (R-Indiana) and Suzan DelBene (D-Washington), also has an additional 70 cosponsors divided equally between Republicans and Democrats.

Eric Fanning, president and CEO of the Aerospace Industries Association, stated, "The Aerospace Industries Association is grateful for the continued bipartisan support of the American Innovation and R&D Competitiveness Act, which will restore immediate research and development expensing—allowing innovation to flourish among America's aerospace and defense companies and ensuring we continue to outpace our adversaries."

"The American Innovation and R&D Competitiveness Act is a beacon of hope for U.S. manufacturers as we face unfair global competition," declared Eric Axel, executive director of the American Medical Manufacturers Association. He emphasized that reinstating immediate R&D expensing empowers domestic makers of critical medical supplies to innovate, compete, and safeguard public health and national security.

Chris Rager, vice president of government affairs for the Plastics Industry Association, highlighted the importance of restoring full and immediate R&D expensing, noting that it is "essential to the future of American manufacturing and the competitiveness of the U.S. plastics industry."

Robert Bunting Jr., president & CEO of Bunting in Newton, Kansas, praised the legislation for providing manufacturing certainty and resources. He stated that it would allow manufacturers to continue hiring, expanding, and staying competitive.

Representative Estes has been actively advocating for American innovation. In the previous Congress, he reintroduced the bill, H.R. 2673, alongside John Larson. Estes has supported the bill through various committees and public platforms, emphasizing its importance for restoring U.S. dominance in research and development.

In April 2024, Rep. Estes was appointed chair of the newly formed U.S. Innovation Tax Team by Ways and Means Committee Chairman Jason Smith (R-Missouri) and Tax Subcommittee Chairman Mike Kelly (R-Pennsylvania). Rep. Estes met with innovators and manufacturers across Kansas and led a delegation to Silicon Valley to discuss the potential impact of the upcoming tax expirations from the 2017 Trump tax cuts.

###