A bill to amend section 174 of the Internal Revenue Code of 1954 to insure its uniform application to business products.

[AI summary unavailable — showing source text] Provides that any expenditure paid or incurred by a taxpayer in connection with his trade or business for the development or improvement of a product shall be treated as a research or experimental expenditure for purposes of a tax deduction under the Internal Revenue Code irrespective of the nature of such product and irrespective of whether the product constitutes the result of research on a literary, historical, or similar project. (Amends 26 U.S.C. 174)…