Natalie Kaddas: U.S. manufacturing should be able to write off R&D expenses right away.
Kaddas Enterprises Inc. makes thermoformed plastic parts — components critical for energy resiliency projects here in America and around the world. We have long relied on familiar, pro-growth provisions in the tax code that promote business investment in research and experimentation to develop new products and technologies.
The harsh impact of this tax law change cannot be overstated for small businesses like mine. Approximately 18% of our total wages support R&D investments, and our inability to fully deduct these wages on this year’s tax return has increased our tax burden by 35%. This increased tax bill limits our ability to make future capital purchases, grow our workforce, and invest in additional innovation.
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