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S 314 118th Congress Senate Taxation

CREATE JOBS Act

Introduced: February 9, 2023 Introduced by: Cruz, Ted Republican · Texas See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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 9, 2023
Read twice and referred to the Committee on Finance.
Feb 9, 2023
Introduced in Senate
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 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.

What's happening now February 9, 2023

Read twice and referred to the Committee on Finance.

 Related & companion bills 3
  • HR 2406 Related bill ALIGN Act
  • S 1117 Related bill ALIGN Act
  • HR 2673 Related bill American Innovation and R&D Competitiveness Act of 2023
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). S. 314: CREATE JOBS Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-314/
MLA
"S. 314: CREATE JOBS Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-314/.
Bluebook (legal)
S. 314, 118th Cong. (2026), https://openamerica.io/bill/118-S-314/.
Markdown link
[S. 314: CREATE JOBS Act](https://openamerica.io/bill/118-S-314/)
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