HR 1304 · 117th Congress · Taxation

American Innovation and R&D Competitiveness Act of 2021

Introduced 2021-02-24· Sponsored by Rep. Larson, John B. [D-CT-1]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2021-02-24)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (20)

9 Democrats11 Republicans
Rep. Panetta, Jimmy [D-CA-20]CA
Rep. DelBene, Suzan K. [D-WA-1]WA
Rep. Estes, Ron [R-KS-4]KS
Rep. LaHood, Darin [R-IL-18]IL
Rep. Arrington, Jodey C. [R-TX-19]TX
Rep. Blumenauer, Earl [D-OR-3]OR
Rep. Sewell, Terri A. [D-AL-7]AL
Rep. Boyle, Brendan F. [D-PA-2]PA
Rep. Suozzi, Thomas R. [D-NY-3]NY
Rep. Murphy, Stephanie N. [D-FL-7]FL
Rep. Smith, Jason [R-MO-8]MO
Rep. Hern, Kevin [R-OK-1]OK
Rep. Walorski, Jackie [R-IN-2]IN
Rep. Ferguson, A. Drew, IV [R-GA-3]GA
Rep. Miller, Carol D. [R-WV-3]WV
Rep. Bonamici, Suzanne [D-OR-1]OR
Rep. Kelly, Mike [R-PA-16]PA
Rep. Buck, Ken [R-CO-4]CO
Rep. Fitzpatrick, Brian K. [R-PA-1]PA
Rep. Kind, Ron [D-WI-3]WI