Jorge Castro discussed the outlook for H.R. 7024, the pending legislative tax package that would retroactively extend a key research and development (R&D) tax incentive along with other expired business tax provisions from the 2017 Tax Cuts & Jobs Act.  H.R. 7024 has been stalled in the U.S. Senate since February after passing the U.S. House of Representatives with an overwhelming majority. While time is passing for small businesses that would benefit from the R&D tax incentive, it hasn't yet run out. According to Castro, lawmakers will need to pass a Federal Aviation Administration (FAA) reauthorization bill that would extend the Airport and Airway Trust Fund (AATF) excise taxes past May 10, and that could serve as a potential vehicle to attach a tax package. It's not terribly surprising that a deal hasn't come together, Castro noted, because senators are working on the assumption that they have a little more time to make a deal. If the FAA bill doesn't include the tax package and lawmakers are still nowhere close to reaching a bipartisan compromise, H.R. 7024 would then be in "significant peril … because there's no other likely tax vehicle to occur at all for the foreseeable future," Castro said. Lawmakers could potentially vote on the package during the lame-duck session after the November elections, but "that's also riddled with lots of uncertainty."