Big R&D Tax Breaks Coming Under Obama

Major tax breaks for research and development were installed under Ronald Reagan, at a time when many feared the United States was falling behind the Japanese in all things technical, and their precise definition has been something of a political football ever since. Now the Treasury Department is proposing new rules that will expand the definition in ways that will save companies millions of dollars, the writer says. The Administration says it is merely clarifying rules that are already there.