Lutnick Tells Coons He Will Not ‘Harm Innovation’ With Patent Tax Proposal
Secretary Lutnick confirmed the Commerce Department is abandoning a proposal to tax patents based on their estimated value.
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tl;dr
Commerce Secretary Howard Lutnick told Senator Chris Coons he is abandoning a controversial proposal to tax U.S. patents based on their valuation. The move follows bipartisan and industry backlash against the 2025 plan, which critics called a threat to American innovation.
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