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Support for New Businesses: Tax Relief and Loss Protection.

This act simplifies starting new businesses by increasing the immediate tax deductions for initial expenses. It also helps new companies retain their tax benefits and the ability to deduct losses, even if ownership changes, enhancing their financial stability.
Key points
Increases the immediate deduction for business start-up costs to $20,000, with inflation adjustments.
Allows remaining start-up costs to be deducted over 180 months.
Protects net operating losses and tax credits for new businesses after an ownership change, supporting their survival and growth.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1778
Sponsor: Rep. Buchanan, Vern [R-FL-16]
Process start date: 2025-03-03
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

American Innovation Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1778.

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 2025-03-03.

What are the main provisions?

Key points include:

  • Increases the immediate deduction for business start-up costs to $20,000, with inflation adjustments.
  • Allows remaining start-up costs to be deducted over 180 months.
  • Protects net operating losses and tax credits for new businesses after an ownership change, supporting their survival and growth.
What is the specific legal status?

The current status is Introduced.

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. Buchanan, Vern [R-FL-16].

What is the latest detailed status?

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

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Taxes Economy