S2823-118

Introduced

To amend the Internal Revenue Code of 1986 to safeguard beneficial tax treatment on certain expenses from bolstering the research and development sectors in foreign entities of concern.

118th Congress Introduced Sep 14, 2023

Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.

Summary

What This Bill Does

This bill, To amend the Internal Revenue Code of 1986 to safeguard beneficial tax treatment on certain expenses from bolstering the research and development sectors in foreign entities of concern., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Energy, Foreign Policy.

Who Benefits and How

financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.

Who Bears the Burden and How

federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.

Key Provisions

  • Section S1: 1. Short title This Act may be cited as the Securing America’s R&D Advantage Act.
  • Section id58F2135C2381455CB5C194F8307A4F6B: 2. Restoring immediate expensing for research and development investments Section 174 of the Internal Revenue Code of 1986 is amended to read as follows:...
  • Section H37C63FF14C8346ACAD7F25566B61BC4A: 174. Research and experimental expenditures A taxpayer may treat research or experimental expenditures which are paid or incurred by him during the taxable...
  • Section idA0ABD7F4CAC741A6A593591AEF61A5FB: 3. Expanding refundable research credit for new and small businesses Subclause (I) of section 41(h)(4)(B)(i) of the Internal Revenue Code of 1986 is amended by...
  • Section id5DF7A9744D60469FAA2900ACD5D2FDB5: 4. Increasing access to the research credit for startups Paragraph (4) of section 41(c) of the Internal Revenue Code of 1986 is amended by adding at the end...

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

This bill, To amend the Internal Revenue Code of 1986 to safeguard beneficial tax treatment on certain expenses from bolstering the research and development sectors in foreign entities of concern., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.

Key Policy Areas

Finance, Energy, Foreign Policy

Primary Purpose

This bill, To amend the Internal Revenue Code of 1986 to safeguard beneficial tax treatment on certain expenses from bolstering the research and development sectors in foreign entities of concern., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.

Policy Domains

Finance Energy Foreign Policy

Whole bill

Identified Gains
  • financial institutions, investors, and borrowers
Model: codex-gpt-5 | Version: bill_summary_v2 | Source: is
financial institutions, investors, and borrowers: ,
Identified Costs
  • federal implementing agencies
  • financial institutions, investors, and borrowers
Model: codex-gpt-5 | Version: bill_summary_v2 | Source: is
federal implementing agencies: ,
financial institutions, investors, and borrowers: ,

Legislative Progress

Introduced
Introduced Committee Passed
Sep 14, 2023

Mr. Rubio introduced the following bill; which was read twice …

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?

Domains
Finance Energy Foreign Policy
Actor Mappings
"the_secretary"
→ The Secretary identified in the operative section

We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.

Learn more about our methodology