Top US business group warns of Congress failure on R&D tax perk

The CEO of Business Roundtable is concerned that an R&D tax deduction with bipartisan support is falling off the political radar, saying the absence of a tax break would limit companies’ choices.

Photo: Anna Moneymaker/AFP/Ritzau Scanpix

One of Washington’s most prominent business groups sent a warning about an impasse in Congress over a corporate tax break for research and development costs.

Business Roundtable Chief Executive Officer Joshua Bolten on Wednesday flagged concerns that reviving the deduction for R&D will fall off of Congress’s agenda later this year, despite it having bipartisan support.

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