S 866 118th Congress Senate Taxation Business expenses Income tax credits Income tax deductions Research and development Small business

American Innovation and Jobs Act

Introduced: May 2, 2023 Introduced by: Hassan, Margaret Wood Democratic · New Hampshire See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 16, 2023

Read twice and referred to the Committee on Finance.

Mar 16, 2023

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 16, 2023

Read twice and referred to the Committee on Finance.

Related & companion bills 2

Bill text 1 version

Introduced in Senate Formatted Text PDF Formatted XML

Source documents hosted by congress.gov.

Committees of jurisdiction 1

Finance Committee
Senate

Lobbying activity 27

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

NATIONAL VENTURE CAPITAL ASSOCIATION
for NATIONAL VENTURE CAPITAL ASSOCIATION · District of Columbia · 2nd Quarter (Apr 1 - June 30) 2026
CASE NEW HOLLAND INDUSTRIAL INC.
for CASE NEW HOLLAND INDUSTRIAL INC · District of Columbia · 2nd Quarter (Apr 1 - June 30) 2026
NATIONAL VENTURE CAPITAL ASSOCIATION
for NATIONAL VENTURE CAPITAL ASSOCIATION · District of Columbia · 1st Quarter (Jan 1 - Mar 31) 2026
CASE NEW HOLLAND INDUSTRIAL INC.
for CASE NEW HOLLAND INDUSTRIAL INC · District of Columbia · 1st Quarter (Jan 1 - Mar 31) 2026
NATIONAL VENTURE CAPITAL ASSOCIATION
for NATIONAL VENTURE CAPITAL ASSOCIATION · District of Columbia · 4th Quarter (Oct 1 - Dec 31) 2025
GENERAL DYNAMICS CORP
for GENERAL DYNAMICS CORP · Virginia · 4th Quarter (Oct 1 - Dec 31) 2025

See all 27 filings →

Cosponsors 38

Graham, Lindsey

South Carolina · Jan 24, 2024

Luján, Ben Ray

New Mexico · Jan 24, 2024

Ricketts, Pete

Nebraska · Nov 29, 2023

Shaheen, Jeanne

New Hampshire · Sep 27, 2023

Ossoff, Jon

Georgia · Jul 18, 2023

Gillibrand, Kirsten E.

New York · Jul 12, 2023

Lankford, James

Oklahoma · Jul 12, 2023

Heinrich, Martin

New Mexico · Jun 13, 2023

Sullivan, Dan

Alaska · Jun 13, 2023

Britt, Katie Boyd

Alabama · May 15, 2023

Rosen, Jacky

Nevada · May 15, 2023

Budd, Ted

North Carolina · May 10, 2023

Kaine, Tim

Virginia · May 10, 2023

Mullin, Markwayne

· May 10, 2023

Warner, Mark R.

Virginia · May 10, 2023

Baldwin, Tammy

Wisconsin · May 2, 2023

Boozman, John

Arkansas · May 2, 2023

Kennedy, John

Louisiana · Apr 25, 2023

Tuberville, Tommy

Alabama · Mar 30, 2023

Coons, Christopher A.

Delaware · Mar 27, 2023

King, Angus S., Jr.

Maine · Mar 27, 2023

Marshall, Roger

Kansas · Mar 27, 2023

Capito, Shelley Moore

West Virginia · Mar 23, 2023

Fischer, Deb

Nebraska · Mar 23, 2023

Klobuchar, Amy

Minnesota · Mar 23, 2023

Padilla, Alex

California · Mar 23, 2023

Barrasso, John

Wyoming · Mar 16, 2023

Cortez Masto, Catherine

Nevada · Mar 16, 2023

Daines, Steve

Montana · Mar 16, 2023

Hagerty, Bill

Tennessee · Mar 16, 2023

Kelly, Mark

Arizona · Mar 16, 2023

Moran, Jerry

Kansas · Mar 16, 2023

Murray, Patty

Washington · Mar 16, 2023

Peters, Gary C.

Michigan · Mar 16, 2023

Sinema, Kyrsten

· Mar 16, 2023

Tillis, Thomas

North Carolina · Mar 16, 2023

Wicker, Roger F.

Mississippi · Mar 16, 2023

Young, Todd

Indiana · Mar 16, 2023

Cite this page click to expand

APA

U.S. Congress. (2026). S. 866: American Innovation and Jobs Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-866/

MLA

"S. 866: American Innovation and Jobs Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-866/.

Bluebook (legal)

S. 866, 118th Cong. (2026), https://openamerica.io/bill/118-S-866/.

Markdown link

[S. 866: American Innovation and Jobs Act](https://openamerica.io/bill/118-S-866/)