Senate Bill 2823 - Securing America’s R&D Advantage Act

Purpose and Summary

Chamber: Senate

Introduced date: 2023-09-14

Recent Activity

Read twice and referred to the Committee on Finance.

Alternative Names

Securing America’s R&D Advantage Act

Securing America’s R&D Advantage Act

A bill to amend the Internal Revenue Code of 1986 to safeguard beneficial tax treatment on certain expenses from bolstering the research and development sectors in foreign entities of concern.

Associated Legislation

American Innovation and Jobs Act

Policy Areas

Taxation

Potential Impact

Sponsors and Supporters

Sen. Rubio, Marco [R-FL]

Cosponsors and Supporters

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Committees and Subcommittees

Finance Committee

Variations and Revisions

Securing America’s R&D Advantage Act

3/13/2024, 5:22 PM

Securing America's R&D Advantage 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 ...

Congress
118

Number
S - 2823

Introduced on
2023-09-14

# Amendments
0

Sponsors
+5

Variations and Revisions

9/14/2023

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Securing America's R&D Advantage 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 ...

Alternative Names
Official Title as IntroducedA bill to amend the Internal Revenue Code of 1986 to safeguard beneficial tax treatment on certain expenses from bolstering the research and development sectors in foreign entities of concern.

Policy Areas
Taxation

Comments

Recent Activity

Latest Summary9/25/2023

Securing America's R&D Advantage 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 ...


Latest Action9/14/2023
Read twice and referred to the Committee on Finance.