[20180409]IF10757_2017年税法（P.L115-97）和创新投资.pdf

https:/crsreports.congress.gov Updated April 9, 2018The 2017 Tax Law (P.L. 115-97) and Investment in InnovationTechnological innovation refers to the often lengthy, uncertain, and convoluted process of bringing new technologies to the marketplace and their adoption by many consumers and companies. Numerous studies have shown that innovation serves as the primary engine of long-term growth in real income per person, mainly by increasing the productivity of a nations capital stock and labor force. Among the key players in the innovation process are large established companies that invest substantial amounts in research and development (R&D), small start-up (or entrepreneurial) firms seeking to commercialize specific new technologies, and companies that invest in advanced capital assets for use in their operations. Investment in Innovation and Federal Policy In a market economy, the main driver of technological innovation is private investment in R&D and in new capital assets that incorporate advanced technologies (e.g., robotics). Companies making such investments seek to seize, sustain, or enlarge a competitive advantage by being the first to sell or use new and improved products,