Tax and spending megabill increases funding for private R&D, defense and NASA
Republicans passed their sweeping reconciliation bill Thursday that includes major tax breaks for private research and development, along with funding increases for defense and NASA. The measure passed the House 218–214, with all Democrats and two Republicans voting no.
The final version includes provisions from the House’s May bill and Senate revisions, such as a new endowment tax for certain private colleges and the auction of 800 megahertz of spectrum. It also funds AI research at the Department of Energy and reauthorizes the Radiation Exposure Compensation Act.
The bill was signed into law by President Donald Trump Friday.