Federal Tax Bill to Support Landscape Architecture R&D
H.R. 2673, the American Innovation and Research and Development Act, would allow businesses to receive full annual tax deductions for R&D expenses. It also would expand business eligibility for the deduction to include more small businesses and start-ups.
Matthew Gallagher
2024-03-05
Landscape architects frequently conduct research and development (R&D) to expand knowledge, technology, and expertise in professional practice. These efforts result in innovations that support biodiversity, active transportation, clean air and water, and much more. Ë¿¹ÏÊÓƵ supports measures that increase landscape architecture R&D efforts.
To these ends, Ë¿¹ÏÊÓƵ supports H.R. 2673, the American Innovation and Research and Development Act, which would allow businesses to receive full annual tax deductions for R&D expenses. It also would expand business eligibility for the deduction to include more small businesses and start-ups.
On January 31, 2024, the House of Representatives passed this measure as part of the bipartisan Tax Relief for American Families and Workers Act. Ë¿¹ÏÊÓƵ sent a letter to the House Ways and Means Committee leadership commending the passage of the R&D provision. The Tax Relief for American Families and Workers Act is now working its way through the Senate. Ë¿¹ÏÊÓƵ will work to include the R&D provision in a final version.
If signed into law, this legislation will empower landscape architecture firms of all sizes to explore new technologies, materials, and methods for improving the built and natural environment.