Washington–Business Roundtable CEO Joshua Bolten today released the following statement after Congress approved legislation to fund the government through December 23:
“Business Roundtable welcomes passage of the stopgap spending bill to keep the government open and provide negotiators more time to finalize a long-term funding deal. We encourage Congress and the Administration to move swiftly and pass a bipartisan omnibus spending bill.
“As part of the final funding package, we urge negotiators to restore immediate expensing for American research and development (R&D) investments. For the first time in nearly 70 years, businesses of all sizes are required to expense R&D investments over five years, making it more difficult to compete with China, create good-paying jobs and develop new, cutting-edge products.”