At TIA, we want the United States to lead the next generation of telecommunications technologies. However, short-sighted tax policies that are out of step with the way the rest of the world taxes private R&D spending are leaving our country at a significant disadvantage compared to the rest of the world.

Congress needs to act quickly to fix an issue contained in the Tax Cuts and Jobs Act (TCJA) of 2017. While the TCJA included positive movement on taxes generally, beginning in 2022 it punishes innovation by limiting how companies deduct R&D expenses. Before the TCJA, companies could deduct the full cost of R&D spending in the year they occurred, but starting this year, companies will have to amortize R&D investment, spreading deductions over five years.

This limits the incentive to invest in American R&D, and it is out ...