On 11/15/23, the US Senate passed a two-step continuing resolution to keep the federal government open. The CR now goes to President Biden's desk; he has said he will sign it. It does not include the R&D language.
On 11/14/23, the US House of Representatives passed a two-step continuing resolution to keep the federal government open and the Senate is expected to do the same by the deadline this Friday, November 17. Although the CR does not include an R&D amortization fix, Congress has other potential options for moving a fix, including attaching it to the FAA reauthorization bill or passing it as part of a stand-alone tax package.
ACEC's PR campaign is in full swing. Our ad ran nationally during the first week of the campaign with 22 spots on CNN, MSNBC, and Fox. Since then the ad ran on these three networks in the DC market exclusively, with 129 spots and counting. We’re also running the ad on local radio station WTOP, which is known for its political coverage. There have been nearly 900,000 video impressions so far on digital/connected TV and we’re using various platforms – such as YouTube –to extend the reach of the campaign.
On the earned media side, our PR firm is pitching op-eds in the six key states we identified (AZ, NV, MT, OH, PA, and GA) and we’ve had the following success so far:
There have been almost 1300 emails sent to Capitol Hill since we relaunched our action alert, but not nearly enough. We need more ACEC members to reach out to their House and Senate members to stress the urgency of action now. Please use the action alert link to reach out to your US House Representative and your two US Senators.
We'll update you as ACEC's PR efforts expand. Thank you for your continued engagement on this critical issue and please let me know if you have any questions.
On 11/14/23, the US House of Representatives approved a short-term, stopgap funding bill to keep government programs operating and avoid a partial shutdown. The vote was 336-95, with 127 Republicans joining 209 Democrats in support.
The new Speaker, Rep. Mike Johnson, took a novel approach, proposing a two-tiered "continuing resolution (CR)" that has two different expirations. Some programs - including transportation - are extended through January 19, 2024. That package includes energy, water, and military construction programs that tend to be popular and relatively easier to negotiate. The rest are extended to February 2, 2024. The Speaker's stated objective was to avoid getting jammed with a year-end omnibus bill and continue to try to advance individual spending bills. Democrats supported it because it maintained current funding levels and did not include any objectionable policy provisions.
The Senate is expected to pass the CR this week and the President has said he will sign it into law. This will push the broader budget debate passed the holidays and into early next year.
With respect to the full-year spending bill for Fiscal Year 2024, the House has been unable to pass the Transportation, Housing & Urban Development appropriations bill. Enough moderate Republicans have joined with Democrats in objecting to the proposed cuts to rail, transit and multimodal grants that the bill does not have enough support to pass.
As you know, the House passed a two-step continuing resolution to keep the federal government open and the Senate is expected to do the same by the deadline this Friday. Although the CR does not include an R&D amortization fix, Congress has other potential options for moving a fix, including attaching it to the FAA reauthorization bill or passing it as part of a stand-alone tax package.
Older information, pre-11/15/23
ACEC is continuing its campaign to fix R&D amortization with an action alert and other promotional materials. We're asking you to contact your Members of Congress if you didn't last week - again. The focus of the message is the need for congressional action before the end of the year.
ACEC's website, Protect Engineering Innovation includes an ad appearing in some targeted markets.
R&D amortization isn't just a problem for big companies. 58% of engineering firms surveyed by the ACEC Research Institute indicated they conduct R&D spending. Among those impacted, the average will be a loss of nearly $1.5 million (median loss of $400,000). Source: ACEC Research Institute 2023 Q4 Engineering Business Sentiment Survey.
We need to make sure that R&D amortization is a top priority for Congress: send a letter to your US House Representative. Even if your Member of Congress has cosponsored the House and Senate repeal bills, we need ACEC members to reach out again and stress the urgency of Congress fixing R&D amortization now. ACEC makes it very easy for you.
Here is the Full list of US House co-sponsors to date. Contact Abbie Goodman if you have any questions.
ACEC-backed legislation to repeal the 5-year R&D amortization requirement has just been reintroduced in the US House and US Senate. Your ACEC member action is needed today to build support for repeal of this costly requirement.
Starting on January 1, 2022, Congress changed how firms write off R&D expenses. Previously they could be deducted in the year they were incurred but now must be amortized over five years in most cases.
Amortization of R&D expenses is causing significant cash flow problems for engineering firms and creating a disincentive for investment in innovation. It will also place the U.S. at a competitive disadvantage to other countries that provide greater incentives for R&D.
Please contact your Members of Congress and ask them to cosponsor this critical legislation. Even if you contacted your Members of Congress earlier this year, we need you to take action again.
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