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Business/Financial

House Approves Tax Bill That Temporarily Restores R&D Tax Credit

By Cal Biesecker

Thursday, February 1st, 2024

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House Approves Tax Bill That Temporarily Restores R&D Tax Credit

The House on Wednesday approved a bipartisan tax relief bill that includes a provision restoring the research and development (R&D) tax credit that defense contractors say provides them with an incentive to invest in innovation and technology. The tax credit had expired on Jan. 1, 2022, and the Tax Relief for American Families and Workers Act (H.R. 7024) would retroactively restore the R&D provision to when it expired, and extend it through 2025. If the bill is ultimately approved, businesses…

Congress

With $1.5 Trillion Request, Army, Air Force, Navy’s Unfunded Lists Focus Solely On MILCON Projects

With the Trump administration’s push to massively increase defense spending to $1.5 trillion in fiscal year 2027, the Army, Air Force and Navy have eschewed submitting large unfunded priorities lists […]

Unmanned Systems

Bipartisan House Bill Would Give National Guard To Counter-Drone Authorities

Seeking to close gaps that may arise between state and local law enforcers in different jurisdictions, a bipartisan contingent of House members this week introduced a bill that would allow […]

Congress

Munitions Fired Represent Most of $25 Billion Spent By Pentagon on Iran War So Far

Munitions fired in the two-month old “Operation Epic Fury” against Iran represent most of the $25 billion cost the Pentagon has incurred thus far in the conflict, the acting Defense […]

Congress

Slotkin: Pentagon Should Use Anthropic’s Mythos To Spot Cyber Security Gaps

The Pentagon should be using Anthropic‘s recently announced Mythos artificial intelligence model to spot gaps in cyber security, Sen. Elissa Slotkin (D-Mich.) said on Tuesda. “I think the thing that […]