S 1639
American Innovation and Jobs Act
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- Passed Senate
- Passed House
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- Became Law
Bill overview
The American Innovation and Jobs Act aims to stimulate research and development by enhancing tax benefits for businesses. It restores immediate expensing for research and development investments and introduces a refundable research credit specifically for small and new businesses. The bill also increases the maximum refundable credit amount over time and expands eligibility for startups, aiming to make research and development more accessible to smaller companies. Finally, it clarifies rules regarding the application of the research credit for qualified small businesses.
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Primary sponsor
Cosponsors
Angus S., Jr. King
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