HR 6756 115th Congress House Taxation Business investment and capital Corporate finance and management Income tax credits Income tax deductions Inflation and prices

American Innovation Act of 2018

Introduced: September 10, 2018 Introduced by: Buchanan, Vern Republican · Florida See on congress.gov

Everywhere this bill has been 17 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Sep 28, 2018

Received in the Senate and Read twice and referred to the Committee on Finance.

Sep 27, 2018

Motion to reconsider laid on the table Agreed to without objection.

Sep 27, 2018

On passage Passed by the Yeas and Nays: 260 - 156 (Roll no. 412). (text: CR H9113-9114)

Sep 27, 2018

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 260 - 156 (Roll no. 412).(text: CR H9113-9114)

Sep 27, 2018

Considered as unfinished business. (consideration: CR H9134-9135)

Sep 27, 2018

POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 6756, the Chair put the question on passage of the bill, and announced that the ayes prevailed by voice vote. Mr. Buchanan demanded the Yeas and Nays, and the Chair postponed further proceedings on the question of passage on H.R. 6756 until later in the legislative day.

Sep 27, 2018

The previous question was ordered pursuant to the rule.

Sep 27, 2018

DEBATE - The House proceeded with one hour of debate on H.R. 6756.

Sep 27, 2018

Rule provides for consideration of H.R. 6756, H.R. 6757 and H.R. 6760.

Sep 27, 2018

Considered under the provisions of rule H. Res. 1084. (consideration: CR H9113-9118)

Sep 26, 2018

Rules Committee Resolution H. Res. 1084 Reported to House. Rule provides for consideration of H.R. 6756, H.R. 6757 and H.R. 6760.

Sep 24, 2018

Placed on the Union Calendar, Calendar No. 745.

Sep 24, 2018

Reported (Amended) by the Committee on Ways and Means. H. Rept. 115-957.

Sep 13, 2018

Committee Consideration and Mark-up Session Held.

Sep 13, 2018

Ordered to be Reported in the Nature of a Substitute by Voice Vote.

Sep 10, 2018

Referred to the House Committee on Ways and Means.

Sep 10, 2018

Introduced in House

Votes taken on this bill 1

Date	Chamber	What was voted on	Result	Yes–No
Sep 27, 2018	House · vote #412	On Passage	Passed	260–156	See who voted →

Plain-English summary Congressional Research Service

American Innovation Act of 2018

This bill consolidates and expands the existing tax deductions for start-up expenditures and organizational expenditures of taxpayers beginning an active trade or business.

For the year in which an active trade or business begins, the bill allows a single deduction equal to the lesser of (1) the aggregate amount of start-up and organizational expenditures paid or incurred in connection with the active trade or business, or (2) $20,000, reduced (but not below zero) by the amount by which the aggregate amount exceeds $120,000. The $20,000 and $120,000 limits must be adjusted for inflation after 2019.

The bill also allows a start-up business to use net operating loss carryforwards, net operating losses, and unused general business tax credits after an ownership change without being subject to certain limitations required under current law.

What's happening now September 28, 2018

Received in the Senate and Read twice and referred to the Committee on Finance.

Committees of jurisdiction 2