H.R. 1304
Referred to CommitteeAmerican Innovation and R&D Competitiveness Act of 2021
Introduced 2/24/2021•117th Congress•House
Latest Action
Referred to the House Committee on Ways and Means.
2/24/2021 • House
Summary
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.
Introduced in House • 2/24/2021
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Topics & Subjects
Policy Area: Taxation
Business expensesIncome tax deductionsResearch and development
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Related Federal Spending
Sponsor & Cosponsors (115)
Party Breakdown
54
Democrats
61
Republicans
0
Independents
Sponsor
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Cosponsors (114)
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Bill Journey
Originated in the House
Introduced
February 24, 2021
Referred to the House Committee on Ways and Means.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Introduced in House2/24/2021