0
0
0
Fostering Innovation and Research to Strengthen Tomorrow Act
12/15/2023, 4:01 PM
Congressional Summary of HR 5056
Fostering Innovation and Research to Strengthen Tomorrow Act
This bill doubles the rate of the tax credit for increasing research expenses and the alternative simplified research tax credit. It also increases the credit rate for taxpayers with no research expenses during a specified three-year period and the amount of the credit that certain small businesses may apply against payroll tax liabilities.
Read the Full Bill
Current Status of Bill HR 5056
Bill HR 5056 is currently in the status of Bill Introduced since July 27, 2023. Bill HR 5056 was introduced during Congress 118 and was introduced to the House on July 27, 2023. Bill HR 5056's most recent activity was Referred to the House Committee on Ways and Means. as of July 27, 2023
Bipartisan Support of Bill HR 5056
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
3Democrat Cosponsors
0Republican Cosponsors
3Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5056
Primary Policy Focus
TaxationAlternate Title(s) of Bill HR 5056
Fostering Innovation and Research to Strengthen Tomorrow Act
Fostering Innovation and Research to Strengthen Tomorrow Act
To amend the Internal Revenue Code of 1986 to increase the research tax credit and provide better access to the credit for business startups.
Comments
Sponsors and Cosponsors of HR 5056
Latest Bills
TRAPS Act
Bill HR 4936September 18, 2026
Apples to Apples Comparison Act of 2025
Bill HR 4093September 18, 2026
American Lending Fairness Act of 2026
Bill HR 7866September 18, 2026
Civil Investigative Demand Reform Act of 2025
Bill HR 1653September 18, 2026
American Reserve Modernization Act of 2026
Bill HR 8957September 18, 2026
Preventive Health Savings Act
Bill HR 4464September 18, 2026
PEARL Act
Bill HR 9327September 18, 2026
Medically Tailored Home-Delivered Meals Program Pilot Act
Bill HR 5439September 18, 2026
To designate the facility of the United States Postal Service located at 117 West Lovett Street in Charlotte, Michigan, as the "Francis C. Flaherty Post Office Building".
Bill HR 9570September 18, 2026
To designate the facility of the United States Postal Service located at 1019 Avenue H in Fort Madison, Iowa, as the "Martin L. Graber Post Office".
Bill HR 4707September 18, 2026