Section 174 has been covered many times on this site.
It could explain part of Europe's dumping. If the hiring market in the US is weak, some of those displaced devs could work for European software businesses, at least on a contractor basis, because remote is a thing. I've done that. I'm not doing it now (I'm globally unemployed, ha) but I did do it in the past. Was quite nice actually, the European company I worked with actually paid almost immediately when invoiced, rather than than drag it out 30-60 days as is customary in the US.
It could explain part of Europe's dumping. If the hiring market in the US is weak, some of those displaced devs could work for European software businesses, at least on a contractor basis, because remote is a thing. I've done that. I'm not doing it now (I'm globally unemployed, ha) but I did do it in the past. Was quite nice actually, the European company I worked with actually paid almost immediately when invoiced, rather than than drag it out 30-60 days as is customary in the US.