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S 749 117th Congress Senate Taxation Business expenses Income tax credits Income tax deductions Research and development Small business

American Innovation and Jobs Act

Introduced: March 15, 2021 Introduced by: Hassan, Margaret Wood Democratic · New Hampshire See on congress.gov
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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
Mar 15, 2021
Read twice and referred to the Committee on Finance.
Mar 15, 2021
Introduced in Senate
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 Plain-English summary Congressional Research Service

American Innovation and Jobs Act

This bill revises and expands the deductibility of research and experimental expenditures to allow immediate expensing of such expenditures. It also allows the amortization over a period of at least 60 months of certain other types of research and experimental expenditures not treated as expenses.

The bill increases the maximum amount eligible for the tax credit for new and small businesses and increases to 20% the rate of the credit for business startups.

What's happening now March 15, 2021

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 1304 Related bill American Innovation and R&D Competitiveness Act of 2021
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 29
All 29 Democratic 13 Republican 14
R
Hagerty, Bill
Tennessee · Jun 21, 2022
 D
Kaine, Tim
Virginia · Jun 14, 2022
 R
Tillis, Thomas
North Carolina · Jun 14, 2022
 R
Ernst, Joni
Iowa · Jun 13, 2022
 D
Peters, Gary C.
Michigan · Jun 13, 2022
 R
Fischer, Deb
Nebraska · May 11, 2022
 D
Klobuchar, Amy
Minnesota · May 11, 2022
 D
Murray, Patty
Washington · Mar 15, 2022
 R
Tuberville, Tommy
Alabama · Mar 15, 2022
 D
Hickenlooper, John W.
Colorado · Dec 17, 2021
 R
Wicker, Roger F.
Mississippi · Dec 17, 2021
 R
Moran, Jerry
Kansas · Nov 17, 2021
 D
Warner, Mark R.
Virginia · Nov 17, 2021
 R
Marshall, Roger
Kansas · Oct 25, 2021
 R
Barrasso, John
Wyoming · Sep 29, 2021
 D
Padilla, Alex
California · Sep 29, 2021
 D
Baldwin, Tammy
Wisconsin · Aug 2, 2021
 R
Kennedy, John
Louisiana · Aug 2, 2021
 R
Boozman, John
Arkansas · Jul 27, 2021
 D
Rosen, Jacky
Nevada · Jul 27, 2021
 D
Coons, Christopher A.
Delaware · May 18, 2021
 R
Daines, Steve
Montana · May 18, 2021
 D
Shaheen, Jeanne
New Hampshire · May 18, 2021
 R
Capito, Shelley Moore
West Virginia · Apr 28, 2021
Blunt, Roy
· Apr 13, 2021
 D
Kelly, Mark
Arizona · Apr 13, 2021
Sinema, Kyrsten
· Apr 13, 2021
 D
Cortez Masto, Catherine
Nevada · Mar 15, 2021
 R
Young, Todd
Indiana · Mar 15, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 749: American Innovation and Jobs Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-749/
MLA
"S. 749: American Innovation and Jobs Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-749/.
Bluebook (legal)
S. 749, 117th Cong. (2026), https://openamerica.io/bill/117-S-749/.
Markdown link
[S. 749: American Innovation and Jobs Act](https://openamerica.io/bill/117-S-749/)
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