Of note: Sec. 70302. Full expensing of domestic research and experimental expenditures.

This section reverts the ammortization of domestic R&E expenses.

Previous discussion: https://news.ycombinator.com/item?id=44226145

This also appears to keep the 15-year amortization of foreign R&D expenses, which should significantly preference doing R&D in the US.

This puts SDEs back as fully expendable in the current tax year? Unwinding the R&D classification?

From the pdf of the bill, software is still classified as R&D on page 303 of this bill; the change is that domestic (US) software R&D is no longer forced into a 5yr amortization schedule.

Foreign software R&D is still forced to be amortized over a 15 year period; see pages 304,305,306 of the bill.