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Tax Deduction for Research & Development Restored: Boosting Innovation

This bill aims to restore the immediate tax deduction for research and experimental expenditures for businesses. This means companies 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, indirectly benefiting citizens' well-being.
Key points
Businesses can once again immediately deduct research and development expenses, rather than spreading them over years.
The change aims to encourage companies to invest more in innovation and new technology development.
This could support job creation and overall economic growth.
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Status:
Expired
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Additional Information
Print number: 118_HR_2673
Sponsor: Rep. Estes, Ron [R-KS-4]
Process start date: 2023-04-18
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
AI work logs for this document launch

OFFICIAL LEGAL TITLE

American Innovation and R&D Competitiveness Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2673.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-04-18.

What are the main provisions?

Key points include:

  • Businesses can once again immediately deduct research and development expenses, rather than spreading them over years.
  • The change aims to encourage companies to invest more in innovation and new technology development.
  • This could support job creation and overall economic growth.
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 Rep. Estes, Ron [R-KS-4].

What is the latest detailed status?

The latest detailed status is: Sponsor introductory remarks on measure. (CR H1898)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

What is the impact of this bill?

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.

CATEGORIES

Taxes Economy