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S. 197 117th Congress Senate

CREATE JOBS Act

Official title: A bill to amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment in qualified property is made, and for other purposes.

Introduced: February 3, 2021 Introduced by: Ted Cruz Republican · Texas See on congress.gov
Taxation Business expensesIncome tax deductionsReal estate businessResearch and development
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 3, 2021
Read twice and referred to the Committee on Finance.
Feb 3, 2021
Introduced in Senate
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 Latest action February 3, 2021

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Cost Recovery and Expensing Acceleration to Transform the Economy and Jumpstart Opportunities for Businesses and Startups Act or the CREATE JOBS Act

This bill allows permanent expensing of qualified property (i.e., property with a recovery period of 20 years or less and that is computer software, water utility property, or film, television, or live theatrical production property). It also modifies depreciation provisions for residential rental property and nonresidential real property.

The bill repeals provisions for the amortization of research and experimental expenditures, thus providing for direct expensing of such expenditures.

 Related & companion bills 2
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 197: CREATE JOBS Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-197/
MLA
"S. 197: CREATE JOBS Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-197/.
Bluebook (legal)
S. 197, 117th Cong. (2026), https://openamerica.io/bill/117-S-197/.
Markdown link
[S. 197: CREATE JOBS Act](https://openamerica.io/bill/117-S-197/)
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