The Tax Relief for American Families and Workers Act of 2024 (HR 7024), which includes a delay in the R&D amortization requirement until 2026, passed the US House of Representatives by a wide bipartisan vote of 357 to 70 last night.
HR 7024 now moves to the Senate. ACEC has participated in many meetings with Senate staff over the past few weeks and everyone agrees that a strong vote in the House will focus the discussion in the Senate. It won’t be easy – especially given how much time it takes to move legislation through the Senate floor – but tonight’s vote gives us important momentum.
We will reach out soon with an action alert and other advocacy requests focused on the Senate but for now thank you for your efforts and for being part of this team!
If you want to see who voted for the bill from Ohio, click here: https://clerk.house.gov/Votes/202430 and search by state.