HR 2671
115th Congress
House
Taxation
Income tax credits
Income tax deductions
Manufacturing
Research and development
21st Century Investment Act of 2017
Introduced: May 25, 2017
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 25, 2017
Referred to the House Committee on Ways and Means.
May 25, 2017
Introduced in House
Plain-English summary
21st Century Investment Act of 2017
This bill amends the Internal Revenue Code to: (1) modify the tax credit for increasing research activities to allow an increased 25% tax credit rate for expenses for research, substantially all of which occurs in the United States; and (2) increase to 15%, through 2024, the tax deduction for income attributable to domestic manufacturing production activities for which substantially all of the research and development occurred in the United States.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1