HR 2673
American Innovation and R&D Competitiveness Act of 2023
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Bill overview
The American Innovation and R&D Competitiveness Act of 2023 aims to boost U.S. research and development by allowing companies to immediately deduct research and experimental expenditures rather than amortizing them over time. This change would align the tax treatment of these expenses with prior law, encouraging investment in innovation. The bill also clarifies certain provisions related to the calculation of research credits and applies to a broader range of research activities.
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Primary sponsor
Cosponsors
A. Drew, IV Ferguson
Alexander X. Mooney
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