Arlington, Va. – Aerospace Industries Association (AIA) Vice President of Legislative Affairs Nora Khalil today commended Majority Leader Schumer for taking action on H.R. 7024, the Tax Relief for American Families and Workers Act of 2024, and urged Senators to support the legislation that will reverse a harmful tax amortization that disincentivizes American businesses from investing in research and development (R&D).

“AIA thanks Senator Schumer for taking action on H.R. 7024, giving the Senate the opportunity to end the harmful R&D tax amortization that has stifled innovation and hampered our global competitiveness,” Khalil said. “This is commonsense legislation that will unleash the very innovation that keeps American companies on the cutting edge. We thank Senators Wyden, Young, and Hassan for their leadership on this issue and urge the Senate to pass this bill.”