What is the official ID of this bill?

The official print number for this legislation is HR 1304.

When did the legislative process begin?

The process officially started on 2021-02-24.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/117/bills/hr1304/BILLS-117hr1304ih.htm

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

Who is the primary sponsor?

The primary sponsor is Rep. Larson, John B. [D-CT-1].

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Analysis and Potential Impact of HR 1304

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

Tax Deduction for Research & Development Restored: Boosting Innovation.

Q: What are the main provisions?

Key points include: Businesses can once again fully deduct research and experimental expenses in the year they are incurred, rather than spreading them over several years. This change aims to encourage companies to invest more in innovation and the development of new technologies. It may lead to an increase in innovative products and services available in the market and the creation of new jobs.

This bill reinstates the ability to immediately deduct research and experimental expenditures from taxes. This means businesses investing in innovation can reduce their tax burden more quickly, potentially encouraging greater investment in new technologies and products. Ultimately, this could lead to job creation and economic growth.

Key points

Businesses can once again fully deduct research and experimental expenses in the year they are incurred, rather than spreading them over several years.

This change aims to encourage companies to invest more in innovation and the development of new technologies.

It may lead to an increase in innovative products and services available in the market and the creation of new jobs.

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Additional Information

American Innovation and R&D Competitiveness Act of 2021

Print number: HR 1304

Sponsor: Rep. Larson, John B. [D-CT-1]

Process start date: 2021-02-24

System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.

Summarized by: gemini-2.5-flash-preview-05-20

Source data: api.congress.gov

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Tax Deduction for Research & Development Restored: Boosting Innovation.

Key Questions about Tax Deduction for Research & Development Restored: Boosting Innovation.