H.R. 2673
IntroducedAmerican Innovation and R&D Competitiveness Act of 2023
Introduced 4/18/2023•118th Congress•House
Latest Action
Sponsor introductory remarks on measure. (CR H1898)
4/20/2023
Summary
American Innovation and R&D Competitiveness Act of 2023
This bill eliminates the five-year amortization requirement for research and experimental expenditures, thus allowing continued expensing of such expenditures in the taxable years in which they are incurred.
Introduced in House • 4/18/2023
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Topics & Subjects
Policy Area: Taxation
Business expensesIncome tax deductionsResearch and development
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Related Federal Spending
Sponsor & Cosponsors (224)
Party Breakdown
105
Democrats
119
Republicans
0
Independents
Sponsor
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Cosponsors (223)
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Bill Journey
Originated in the House
Introduced
April 18, 2023
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 House4/18/2023