Travel Tech calls on Congress to make permanent R&D expensing and pass S. 695, the Small Business Investment Act of 2025
Wednesday, June 4, 2025 — The Travel Technology Association (Travel Tech), a non-profit organization dedicated to promoting and protecting the travel technology industry, released two “action alerts” calling on travel technology industry members to communicate directly with their elected representatives and show support for key Travel Tech public policy priorities in the Senate’s reconciliation package, including pro-innovation tax reforms like permanent R&D expensing and bonus depreciation and support for S. 695, the Small Business Investment Act of 2025.
“Making full R&D expensing and 100% bonus depreciation permanent—and modernizing Qualified Small Business Stock (QSBS) rules through S. 695—will give startups the certainty and flexibility they need to attract investment, scale quickly, and compete globally. We urge the Senate to include these critical provisions in reconciliation to empower the next generation of travel technology innovators,” stated Laura Chadwick, President and CEO of Travel Tech.
Startups and high-growth companies depend on stable tax policies to drive innovation and growth. However, current rules that require amortizing R&D expenses over several years hinder long-term planning and investment. While the House-passed reconciliation bill temporarily restores full domestic R&D expensing and extends 100% bonus depreciation through 2029, Travel Tech is calling on the Senate to make these provisions permanent, thus encouraging private-sector innovation and maintaining U.S. competitiveness.
At Travel Tech’s inaugural Start-Up Summit, Wright Ricketts, Legislative Director for Rep. David Kustoff (TN-08), discussed H.R. 1199, the Small Business Investment Act of 2025 and how it will help attract more investment in start-ups. Its Senate companion bill, S. 695, the Small Business Investment Act of 2025, was introduced by Senator John Cornyn (R-TX) and aims to improve access to capital for start-ups and early-stage businesses. If passed, the bill would modernize Qualified Small Business Stock (QSBS) rules by reducing its holding period from 5 years to 3 years, extending the eligibility of S corporations and allowing start-up investors to convert debt into equity and still qualify for the same tax benefits.
Learn more about Travel Tech’s policy priorities and take action to support Permanent R&D Expensing and Bonus Depreciation and S. 695, the Small Business Investment Act of 2025, by visiting Travel Tech’s Policy Action Center.
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The Travel Technology Association (Travel Tech) empowers traveler choice by advocating for public policy that promotes marketplace transparency and competition. Travel Tech represents the leading innovators in travel technology, including online travel agencies, metasearch engines, short-term rental platforms, global distribution systems, and travel management companies.
To schedule an interview with a Travel Tech spokesperson, contact Bradford Williamson of Glen Echo Group at 202.870.3234 or bwilliamson@glenechogroup.com.
