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by Brownstein Hyatt Farber Schreck, LLP

Senators Renew Efforts to Reverse R&D Tax Modification. Last Friday, a bipartisan coalition of 12 senators introduced the American Innovation and Jobs Act to increase incentives for businesses that invest in domestic research and development (R&D). Spearheaded by Sens. Maggie Hassan (D-NH) and Todd Young (R-IN), the legislation would significantly boost a pair of R&D credits under Internal Revenue Code sections 174 and 41. Lawmakers had previously pursued... (continue reading)

Yellen Defends 2024 Budget Proposals before Senate Tax Writers. On March 16, Treasury Secretary Janet Yellen appeared before the Senate Finance Committee to testify on President Joe Biden’s fiscal year 2024 budget proposal. Lawmakers on both sides of the aisle also questioned Yellen on the Treasury Department’s ongoing role in stabilizing the U.S. banking sector in the wake of the high-profile collapses of Silicon Valley Bank and Signature Bank earlier this month. On the budget, lawmakers sparred over proposals to... (continue reading)

CBO Report Furthers Partisan Rift on Deficit Reduction Approaches. On March 14, the Congressional Budget Office (CBO) issued an analysis comparing two possible spending paths to balance the U.S. federal budget over the next decade. This report was requested by Senate Finance Committee Chairman Ron Wyden (D-OR) and Senate Budget Committee Chairman Sheldon Whitehouse (D-RI) as part of Democratic lawmakers’ broader efforts to frame... (continue reading)

Our thanks to Brownstein Hyatt Farber Schreck, LLP.

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About Brownstein Hyatt Farber Schreck, LLP
Brownstein Hyatt Farber Schreck is a unique law firm. Walk into any of our offices and you’ll immediately recognize a different type of energy. Complacency doesn’t have a place here. Flexibility and inspiration do. Our culture and enthusiasm allow our attorneys, policy consultants and legal staff to stay ahead of our clients’ needs and provide them with the resources they require to meet their business objectives.
Stay safe and healthy,
Pat Soldano
President; Policy and Taxation Group
[email protected]
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