Gusto Sends Letter to USICA Conferees Calling for an Expansion of the R&D Tax Credit

Steve Abbott

On May 12, 2022 Gusto sent a letter to all 107 Senate and House Members of the US Innovation and Competition Act (USICA) Conference Committee calling for the inclusion of S. 749, a bill that would restore immediate expensing and expand the research and development tax credit to increase the eligibility for innovative small businesses.  

The goal of the USICA is to reinvigorate domestic research and development for critical technologies, and including S. 749 in the conference report helps to achieve this goal.  Small businesses are facing new challenges in supply chain constraints, labor shortages, and inflationary pressures, and an expansion of the R&D credit targeted towards small, innovative companies will make a meaningful impact on their ability to continue to invest in research and development domestically.  In short, it promotes U.S. competitiveness through investment in innovative entrepreneurs.

Read the full letter here:

Gusto + Ardius letter to USICA Conferees calling for an expansion of the R&D tax credit
Steve Abbott is the Head of Public Policy and Government Affairs for Gusto. In his role, he leads a cross functional team that designs and executes a public policy strategy that advocates for a robust ecosystem for small business formation and growth, and promotes employee financial health and wellness. Prior to Gusto, Steve spent 10 years at the Pew Charitable Trusts leading government relations for projects focused on promoting family economic stability. Steve also has experience working for Congress and was a consultant to Fortune 500 companies and non-profit organizations advising them on public policy. Steve holds a Bachelor’s Degree in Economics from Denison University and an MBA from the University of Maryland.
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