HOUSE 1304117th CongressReferred to the House Committee on Ways and Means.
American Innovation and R&D Competitiveness Act of 2021
- Last Action
- 2/24/2021
Actions
- 2021-02-24Referred to the House Committee on Ways and Means.
- 2021-02-24Introduced in House
- 2021-02-24Introduced in House
CRS Summary
As of 2021-02-24 (00)
American Innovation and R&D Competitiveness Act of 2021
This bill eliminates the five-year amortization requirement for research and experimental expenditures scheduled to begin in 2022, thus allowing continued expensing of such expenditures in the taxable years in which they are incurred.
Cosponsors (20)
- Jimmy Panetta (D-CA)
- Suzan DelBene (D-WA)
- Ron Estes (R-KS)
- Darin LaHood (R-IL)
- Jodey Arrington (R-TX)
- EARL BLUMENAUER (D-OR)
- Terri Sewell (D-AL)
- Brendan Boyle (D-PA)
- Thomas Suozzi (D-NY)
- Stephanie Murphy (D-FL)
- Jason Smith (R-MO)
- Kevin Hern (R-OK)
- Jackie Walorski (R-IN)
- A. Ferguson (R-GA)
- Carol Miller (R-WV)
- Suzanne Bonamici (D-OR)
- Mike Kelly (R-PA)
- Ken Buck (R-CO)
- Brian Fitzpatrick (R-PA)
- RON KIND (D-WI)
Subjects
- Business expenses
- Income tax deductions
- Research and development
Sourced from Congress.gov (public domain).
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