American Innovation Act of 2026

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4207 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4207 To amend the Internal Revenue Code of 1986 to promote new business innovation, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 25, 2026 Mrs. Blackburn introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to promote new business innovation, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``American Innovation Act of 2026''. SEC. 2. SIMPLIFICATION AND EXPANSION OF DEDUCTION FOR START-UP AND ORGANIZATIONAL EXPENDITURES. (a) In General.--Section 195 of the Internal Revenue Code of 1986 is amended by redesignating subsections (c) and (d) as subsections (d) and (e), respectively, and by striking all that precedes subsection (d) (as so redesig…