Bill > HR4438

Introduced Session

American Research and Competitiveness Act of 2014 - Amends the Internal Revenue Code to establish a permanent research tax credit that allows for: (1) 20% of the qualified or basic research expenses that exceed 50% of the average qualified or basic research expenses for the 3 preceding taxable years, and (2) 20% of amounts paid to an energy research consortium for energy research. Reduces such credit rate to 10% if a taxpayer has no qualified research expenses in any one of the 3 preceding taxable years.

Committee Categories

Kevin Brady (R)*,  Charles Boustany (R),  Mike Coffman (R),  Anna Eshoo (D),  Trent Franks (R),  Tim Griffin (R),  Michael Honda (D),  Lynn Jenkins (R),  Sam Johnson (R),  Walter Jones (R),  Mike Kelly (R),  Ron Kind (D),  John Larson (D),  Ben Ray Luján (D),  Tom Marino (R),  Doris Matsui (D),  Michael McCaul (R),  Richard Neal (D),  Erik Paulsen (R),  Tom Reed (R),  Linda Sánchez (D),  Aaron Schock (R),  Eric Swalwell (D),  Todd Young (R), 

Received in the Senate. (on 05/12/2014)

Official Document