118th Congress · HOUSE BILLBILL

H.R. 2673 — American Innovation and R&D Competitiveness Act of 2023

“To amend the Internal Revenue Code of 1986 to restore the deduction for research and experimental expenditures.”

Taxation

Introduced Apr 18, 2023

Last action Apr 20, 2023

Pipeline · Bill → Law

Step 1

Introduced

Apr 18, 2023

Step 2

Referred

Apr 18, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill eliminates the five-year amortization requirement for research and experimental expenditures, thus allowing continued expensing of such expenditures in the taxable years in which they are incurred.

Provisions · 2 sectionsIntroduced in House

Timeline · 3 actions

Apr 20, 2023

Sponsor introductory remarks on measure.

Apr 18, 2023

Introduced in House

Apr 18, 2023

Referred to the House Committee on Ways and Means.