Topic: Research And Development

President Joe Biden visited the San Francisco Bay Area for a series of fundraisers and a meeting with the Council of Advisors on Science and Technology. During his remarks, he emphasized the need to increase GDP spending on research and development from 0.7% back to historical levels of 2%. The council discussed using AI to predict weather extremes and advance cancer research.

Politicians frequently criticize Amazon for paying zero federal income tax despite billions in profit. This financial outcome is attributed to the company plowing profits back into research and development, which is a deductible cost under U.S. tax law. These investments funded the creation of Alexa, Ring doorbells, and Amazon Web Services, which now powers a significant portion of the internet.