Federal Update

Federal Update

May 20, 2022

The federal relations team is monitoring the progress ofS. 1260, the U.S. Innovation and Competition Act (USICA), andH.R. 4521, the America COMPETES Act. The 107 conferees taking part in the negotiations met on May 12 for the first time, kicking off the conference process for the competitiveness legislation.

On the first day of the conference, Sen. Todd Young, a member of the conference committee, said, "In the days ahead, there will be disagreements, but we need to get this bill across the finish line with a strong bipartisan vote, and help ensure the United States is leading the world into the future."

The federal relations team is closely monitoring the developments taking place throughout the conference process, including the Senate's May 4 adoption of a non-binding motion to instruct by Sens. Hassan (D-N.H.) and Young, which supports the expansion of the research and development tax credit for small businesses and the preservation of innovative U.S. companies' abilities to fully deduct R&D investments.

For more information on the conferencing process and to view the first public meeting of the conference committee, visit:Conference Committee on Bipartisan Innovation and Competition Legislation.