Market Chatter: Pledged US Investments of Tech Companies Depend on Research Tax Break, Industry Says

MT Newswires Live
Yesterday

Tech industry representatives are warning that new US investments pledged by major firms could be put at risk if Congress doesn't fully reinstate a tax deduction for research and development, Bloomberg reported Friday, citing the Information Technology Industry Council.

"A lot of those announcements are predicated on an expectation the administration and Congress will partner together on reinstating those R&D provisions," said Jason Oxman, president of the trade group whose members include Amazon (AMZN) and Apple (AAPL), according to Bloomberg.

Lobbyists representing tech firms that pledged new investments, such as Amazon, Apple, Oracle (ORCL), Microsoft (MSFT), Meta Platforms (META) and Taiwan Semiconductor Manufacturing (TSM), have made similar claims to Congress, the report said.

Restoring tax deductions will incentivize investments, Intel (INTC) vice president for government affairs Al Thompson said, according to Bloomberg.

The Information Technology Industry Council, Amazon, Apple, Oracle, Microsoft, Meta Platforms, Taiwan Semiconductor Manufacturing and Intel didn't immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 193.44, Change: +1.36, Percent Change: +0.71

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10