FEDERALhearing transcript

Hearing on Tax Incentives for Small Business Innovation

Original title: AMERICAN INGENUITY: PROMOTING INNOVATION THROUGH THE TAX CODE

January 1, 2023

small business tax code research and development innovation capital access depreciation

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The Frame

What this does

This hearing explores potential changes to tax rules regarding R&D deductions and equipment depreciation that directly affect the cash flow and investment capacity of small businesses.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Small business owners

These individuals are directly affected by changes to tax code provisions that dictate how they can deduct R&D expenses and depreciate business equipment.

What changed

Last recorded activity January 1, 2023.

What's next

Next step not available in the current record.

Summary

The House Subcommittee on Economic Growth, Tax, and held a hearing to discuss how tax policies, specifically research and development (R&D) expensing and , impact small business innovation. Witnesses and committee members examined how these tax incentives influence the ability of small firms to invest in new technologies and manage financial risk.

Key Facts

The hearing focused on the impact of R&D expensing and bonus depreciation on small business operations.
Small businesses often face challenges with capital access and limited workforces when attempting R&D investments.
The Subcommittee heard testimony from business leaders representing Sterman Masser Inc. and Ashland Technologies Inc.
The Tax Law Center at NYU Law provided expert testimony regarding climate-related tax policy.
The hearing was held on June 6, 2023, in the Rayburn House Office Building.
Several organizations submitted additional material for the record, including the Biotechnology Innovation Organization and the National Association of Manufacturers.

Why It Matters

This hearing explores potential changes to tax rules regarding R&D deductions and equipment depreciation that directly affect the cash flow and investment capacity of small businesses.

Frequently Asked Questions

What is the purpose of this hearing?

The hearing was held to gather testimony on how current tax code provisions, specifically and , affect the ability of small businesses to innovate and grow.

Who testified at the hearing?

Witnesses included Julie Masser Ballay (Sterman Masser Inc.), Bill Wydra (Ashland Technologies Inc.), and Michael Kaercher (NYU Law).

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift80% confidence

Focus on R&D Tax Incentives

The committee is actively investigating the impact of recent tax code changes on small business R&D investment, suggesting potential future legislative interest in this area.

Committee on Small Business

Connected Entities

personGreg Landsman“Ranking Member of the Subcommittee”Map →

personMichael Kaercher“Witness, Director of the Climate Tax Project at NYU Law”Map →

personDan Meuser“Chairman of the Subcommittee on Economic Growth, Tax, and Capital Access”Map →

personBill Wydra“Witness, President of Ashland Technologies Inc.”Map →

organizationCommittee on Small Business“House of Representatives committee overseeing the hearing”Map →

personJulie Masser Ballay“Witness, VP and CFO of Sterman Masser Inc.”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance40
How much this matters to a regular citizen
Controversy20
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz10
Current news / social attention level

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