U.S. considering patent tax breaks similar to ‘patent box’ approach in the U.K.

Leading congressional tax writers in both parties are getting behind a major new tax break for corporate innovation as part of their continuing quest to identify ways to make the U.S. business-friendlier. The outlook for a tax overhaul, which would include such a change, remains doubtful this year. But the negotiations over the intellectual-property break are significant because they could become part of a blueprint for any future legislation and inform the debate over taxes and economic growth in the 2016 presidential campaign.