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Tax Relief for Businesses and Real Estate Investments

This act introduces permanent tax deductions for businesses, allowing immediate write-offs for investment costs. Additionally, it changes depreciation rules for real estate, potentially impacting rental costs and construction investments. The goal is to stimulate the economy and create new jobs.
Key points
Businesses can immediately deduct 100% of qualified investment costs, reducing their tax burden.
Rules for residential and nonresidential real property depreciation are adjusted for inflation, potentially affecting property owners.
The requirement to amortize research and experimental expenditures is eliminated, making it easier for companies to invest in innovation.
article Official text account_balance Process page
Expired
Citizen Poll
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Additional Information
Print number: 117_S_197
Sponsor: Sen. Cruz, Ted [R-TX]
Process start date: 2021-02-03
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

CREATE JOBS Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_197.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-02-03.

What are the main provisions?

Key points include:

  • Businesses can immediately deduct 100% of qualified investment costs, reducing their tax burden.
  • Rules for residential and nonresidential real property depreciation are adjusted for inflation, potentially affecting property owners.
  • The requirement to amortize research and experimental expenditures is eliminated, making it easier for companies to invest in innovation.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cruz, Ted [R-TX].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Economy Real Estate