Expressing the sense of Congress that the Supreme Court misinterpreted the First Amendment to the Constitution in the case of Buckley v. Valeo.

Commitment to American Growth, Renewal, and Opportunities for Workers, Technology, and Health Act or the Commitment to American GROWTH Act

This bill provides tax incentives for economic growth, research and development, and small business start-ups.

Specifically, the bill

• makes permanent the expensing of qualified property (i.e., business property with a recovery period of 20 years or less, computer software, water utility property, and certain theatrical and film properties);
• allows full expensing (currently, amortization for 60 months) of certain research and experimental expenditures;
• increases to 40% the rate of the tax credit for increasing research activities and increases the payroll tax offset of such credit for small businesses;
• sets forth a rule for determining the fair market value of intangible property held by controlled foreign corporations that is transferred to U.S. shareholders;
• allows new tax credits for domestic medical and drug manufacturing and medical manufacturing equipment;
• exempts from the definition of passive activity, for purposes of the passive loss tax rules, medical research activity of a medical research small business pass-thru entity; and
• revises and provides for the capitalization of start-up and organizational expenditures.