A little-known change to the tax code during Donald Trump's first presidency seems to be the driving factor behind all those tech layoffs over the past few years. As Quartz reports, a 2017 change to a 70-year-old tax law governing business spending did not go into effect until 2022 — and three years after its commencement, we can see how harmful that move was. Back in 1954, the Internal Revenue Service enacted Section 174, a rule that let companies deduct 100 percent of their research and development (R&D) spending, including salaries for the people involved in it. As Quartz notes, companies […]

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Link :
https://futurism.com/hidden-tech-layoffs-reason