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Permanent Tax Breaks: Full Expensing for Business Investment and R&D Costs.

This legislation permanently changes tax rules to encourage business investment and job creation. Companies can immediately deduct the full cost of qualified equipment and machinery purchases, rather than depreciating them over several years. Furthermore, research and development (R&D) costs can be fully deducted in the year they are incurred, boosting innovation and lowering corporate tax burdens.
Key points
Permanent 100% Expensing: Businesses can immediately deduct 100% of the cost of qualified investments (like machinery and equipment), lowering their taxes in the year of purchase.
R&D Tax Relief Restored: Expenditures for research and experimentation can be fully deducted in the year incurred, providing significant relief for innovative companies.
Inflation-Adjusted Real Estate Depreciation: A new mechanism adjusts depreciation deductions for residential rental and commercial properties, accounting for inflation and a fixed rate of return.
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Additional Information
Print number: 118_S_314
Sponsor: Sen. Cruz, Ted [R-TX]
Process start date: 2023-02-09
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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 118_S_314.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-02-09.

What are the main provisions?

Key points include:

  • Permanent 100% Expensing: Businesses can immediately deduct 100% of the cost of qualified investments (like machinery and equipment), lowering their taxes in the year of purchase.
  • R&D Tax Relief Restored: Expenditures for research and experimentation can be fully deducted in the year incurred, providing significant relief for innovative companies.
  • Inflation-Adjusted Real Estate Depreciation: A new mechanism adjusts depreciation deductions for residential rental and commercial properties, accounting for inflation and a fixed rate of return.
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 2025-12-30.

CATEGORIES

Taxes Economy Real Estate