2023-11-02 letter signed by trade associations and companies (incl. AMD, Cisco, Dropbox, HP, Intel, Nvidia, Qualcomm, Y Combinator), covers three points including R&D expenses, https://documents.nam.org/TAX/2023%20Tax%20Priorities%20Sign...

   1. For nearly 70 years, the tax code recognized the importance of R&D by allowing businesses to fully deduct their R&D expenses in the same year they were incurred. Unfortunately, starting in 2022, the tax code has required businesses to amortize (or deduct over a period of years) their R&D expenses, making R&D more costly to conduct in the U.S. ... tens of thousands of jobs are at risk if the harmful R&D amortization requirement remains in place. As a result of this change, the U.S. is now one of two developed countries requiring the amortization of R&D expenses.

  2. Prior to Jan. 1, 2022, businesses' interest expense deductions were limited by section 163(j) to 30% of their earnings before interest, tax, depreciation and amortization (EBITDA). Interest deductions are now limited to 30% of earnings before interest and tax (EBIT). 

  3. Over the past several decades, the tax code has provided businesses with varying degrees of first-year expensing (i.e., accelerated depreciation). A 100% deduction for the purchase of equipment and machinery in the tax year purchased was in place from 2017 through 2022 ... full expensing began to phase out at the beginning of 2023 and will be eliminated completely by 2027.