To amend the Internal Revenue Code of 1986 to restore the deduction for research and experimental expenditures.
Summary
What This Bill Does
The bill creates research and experimental expenditures Section 174 of the Internal Revenue Code of 1986 is amended to read as follows: 174.Research and experimental expenditures (a)Treatment as Expenses (1)In generalA taxpayer and requires research and experimental expenditures A taxpayer may treat research or experimental expenditures which are paid or incurred by him during the taxable year in connection with his trade or business as expenses. It relies on compliance mandates, definition changes, tax credits, and product standards. The main policy areas are Oil & Gas, Finance, Housing, and Energy.
Who Benefits and How
Oil and gas producers, refiners, or users affected by the bill could face lower compliance burdens, Lobbyists, political organizations, and disclosure users affected by the bill could face lower compliance burdens, and Homeowners, tenants, or housing market participants affected by the bill could face lower compliance burdens.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties.
Key Provisions
- Creates research and experimental expenditures Section 174 of the Internal Revenue Code of 1986 is amended to read as follows: 174.Research and experimental expenditures (a)Treatment as Expenses (1)In generalA taxpayer...
- Requires research and experimental expenditures A taxpayer may treat research or experimental expenditures which are paid or incurred by him during the taxable year in connection with his trade or business as expenses...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates research and experimental expenditures Section 174 of the Internal Revenue Code of 1986 is amended to read as follows: 174.Research and experimental expenditures (a)Treatment as Expenses (1)In generalA taxpayer and requires research and experimental expenditures A taxpayer may treat research or experimental expenditures which are paid or incurred by him during the taxable year in connection with his trade or business as expenses.
Key Policy Areas
Oil & Gas, Finance, Housing, Energy
Primary Purpose
The bill creates research and experimental expenditures Section 174 of the Internal Revenue Code of 1986 is amended to read as follows: 174.Research and experimental expenditures (a)Treatment as Expenses (1)In generalA taxpayer and requires research and experimental expenditures A taxpayer may treat research or experimental expenditures which are paid or incurred by him during the taxable year in connection with his trade or business as expenses.
Policy Domains
Whole bill
Identified Gains
- Oil and gas producers, refiners, or users affected by the bill
- Lobbyists, political organizations, and disclosure users affected by the bill
- Homeowners, tenants, or housing market participants affected by the bill
- Businesses and employers affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
Sponsors
Legislative Progress
IntroducedMr. Estes (for himself, Mr. Larson of Connecticut, Mr. LaHood, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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