summary
Introduced
02/24/2021
02/24/2021
In Committee
02/24/2021
02/24/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to restore the deduction for research and experimental expenditures.
AI Summary
This bill amends the Internal Revenue Code of 1986 to restore the deduction for research and experimental expenditures. Specifically, it allows taxpayers to treat research or experimental expenditures paid or incurred during the taxable year as expenses that are deductible, rather than having to capitalize those costs. The bill also provides an option for taxpayers to amortize certain research and experimental expenditures over a period of at least 60 months. The amendments made by this bill apply to amounts paid or incurred in taxable years beginning after December 31, 2021.
Committee Categories
Budget and Finance
Sponsors (115)
John Larson (D)*,
Pete Aguilar (D),
Rick Allen (R),
Mark Amodei (R),
Jodey Arrington (R),
Don Bacon (R),
Don Beyer (D),
Andy Biggs (R),
Earl Blumenauer (D),
Lisa Blunt Rochester (D),
Suzanne Bonamici (D),
Mike Bost (R),
Brendan Boyle (D),
Anthony Brown (D),
Julia Brownley (D),
Vern Buchanan (R),
Ken Buck (R),
Ken Calvert (R),
Mike Carey (R),
Jerry Carl (R),
Buddy Carter (R),
Steve Chabot (R),
Tom Cole (R),
Gerry Connolly (D),
Joe Courtney (D),
Rick Crawford (R),
Henry Cuellar (D),
John Curtis (R),
Sharice Davids (D),
Warren Davidson (R),
Danny Davis (D),
Rodney Davis (R),
Suzan DelBene (D),
Antonio Delgado (D),
Ron Estes (R),
Dwight Evans (D),
Drew Ferguson (R),
Brian Fitzpatrick (R),
Chuck Fleischmann (R),
Bill Foster (D),
Scott Franklin (R),
Russ Fulcher (R),
Josh Gottheimer (D),
Glenn Grothman (R),
Diana Harshbarger (R),
Vicky Hartzler (R),
Kevin Hern (R),
Steven Horsford (D),
Chrissy Houlahan (D),
Ronny Jackson (R),
Bill Johnson (R),
John Joyce (R),
Marcy Kaptur (D),
Fred Keller (R),
Mike Kelly (R),
Dan Kildee (D),
Derek Kilmer (D),
Ron Kind (D),
Ann Kirkpatrick (D),
David Kustoff (R),
Darin LaHood (R),
Jake LaTurner (R),
Brenda Lawrence (D),
Debbie Lesko (R),
Ted Lieu (D),
Frank Lucas (R),
Tracey Mann (R),
Michael McCaul (R),
David McKinley (R),
Peter Meijer (R),
Carol Miller (R),
Alex Mooney (R),
Gwen Moore (D),
Joe Morelle (D),
Seth Moulton (D),
Greg Murphy (R),
Stephanie Murphy (D),
Joe Neguse (D),
Tom O'Halleran (D),
Jimmy Panetta (D),
Bill Pascrell (D),
Scott Perry (R),
Bill Posey (R),
Tom Reed (R),
Guy Reschenthaler (R),
Tom Rice (R),
Deborah Ross (D),
Lucille Roybal-Allard (D),
Dutch Ruppersberger (D),
Tim Ryan (D),
David Schweikert (R),
Terri Sewell (D),
Brad Sherman (D),
Mikie Sherrill (D),
Elissa Slotkin (D),
Adrian Smith (R),
Jason Smith (R),
Lloyd Smucker (R),
Darren Soto (D),
Melanie Stansbury (D),
Greg Stanton (D),
Bryan Steil (R),
Haley Stevens (D),
Marilyn Strickland (D),
Tom Suozzi (D),
Van Taylor (R),
Dina Titus (D),
Fred Upton (R),
Marc Veasey (D),
Ann Wagner (R),
Jackie Walorski (R),
Brad Wenstrup (R),
Jennifer Wexton (D),
Nikema Williams (D),
Steve Womack (R),
Last Action
Referred to the House Committee on Ways and Means. (on 02/24/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/1304/all-info |
| BillText | https://www.congress.gov/117/bills/hr1304/BILLS-117hr1304ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr1304/BILLS-117hr1304ih.pdf.pdf |
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