Commitment to American GROWTH Act

Summary

Commitment to American Growth, Renewal, and Opportunities for Workers, Technology, and Health Act or the Commitment to American GROWTH Act This bill provides tax incentives for economic growth, research and development, and small business start-ups. Specifically, the bill makes permanent the expensing of qualified property (i.e., business property with a recovery period of 20 years or less, computer software, water utility property, and certain theatrical and film properties); allows full expensing (currently, amortization for 60 months) of certain research and experimental expenditures; increases to 40% the rate of the tax credit for increasing research activities and increases the payroll tax offset of such credit for small businesses; sets forth a rule for determining the fair market value of intangible property held by controlled foreign corporations that is transferred to U.S. shareholders; allows new tax credits for domestic medical and drug manufacturing and medical manufacturing equipment; exempts from the definition of passive activity , for purposes of the passive loss tax rules, medical research activity of a medical research small business pass-thru entity; and revises and provides for the capitalization of start-up and organizational expenditures.

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Timeline

1. 9 October 2020

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 9 October 2020

   Introduced

   Introduced in House

   Source: IntroReferral

3. 9 October 2020

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 9 October 2020 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 9 October 2020

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 9 October 2020

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 9 October 2020

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Brady, Kevin [R-TX-8] · R · Sponsor
• Rep. Arrington, Jodey C. [R-TX-19] · R · Cosponsor
• Rep. Walorski, Jackie [R-IN-2] · R · Cosponsor
• Rep. LaHood, Darin [R-IL-16] · R · Cosponsor
• Rep. Ferguson, A. Drew, IV [R-GA-3] · R · Cosponsor
• Rep. Marchant, Kenny [R-TX-24] · R · Cosponsor
• Rep. Reed, Tom [R-NY-23] · R · Cosponsor
• Rep. Estes, Ron [R-KS-4] · R · Cosponsor
• Rep. Smith, Adrian [R-NE-3] · R · Cosponsor
• Rep. Kustoff, David [R-TN-8] · R · Cosponsor
• Rep. Flores, Bill [R-TX-17] · R · Cosponsor
• Rep. Hern, Kevin [R-OK-1] · R · Cosponsor
• Rep. Balderson, Troy [R-OH-12] · R · Cosponsor
• Rep. Wenstrup, Brad R. [R-OH-2] · R · Cosponsor
• Rep. Reschenthaler, Guy [R-PA-14] · R · Cosponsor
• Rep. Miller, Carol D. [R-WV-1] · R · Cosponsor
• · hswm00 · Standing

Related records

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