Proposal:American Innovation and Jobs Act

This proposal is archived and closed to further debate. It was introduced in the 116th Congress, which has concluded, and the bill was not enacted into law.

Bill	S 4822
Type of Legislation	Senate Bill
Congress	116
Status	Archived — 116th Congress concluded
Source	View original on Congress.gov

Geographic Scope

National

Description

American Innovation and Jobs Act

This bill revises and expands the deductibility of research and experimental expenditures to allow immediate expensing of such expenditures. It also allows the amortization over a period of at least 60 months of certain other types of research and experimental expenditures not treated as expenses.

The bill also increases the maximum amount eligible for the tax credit for new and small businesses and increases to 20% the rate of the credit for business startups.

Bill Title

American Innovation and Jobs Act

Linked Goals

• Goal:Promote General Welfare

Steps

• 2020-10-20: Read twice and referred to the Committee on Finance.
• 2020-10-20: Introduced in Senate

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.