21st Century Investment Act of 2017
Latest action · May 25, 2017 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 25, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
21st Century Investment Act of 2017
This bill amends the Internal Revenue Code to: (1) modify the tax credit for increasing research activities to allow an increased 25% tax credit rate for expenses for research, substantially all of which occurs in the United States; and (2) increase to 15%, through 2024, the tax deduction for income attributable to domestic manufacturing production activities for which substantially all of the research and development occurred in the United States.
Cosponsors 5
Members who signed on, in the order they did. All signed on May 25, 2017.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-RI | David N. Cicilline | Original | May 25, 2017 |
| D-DC | Eleanor Holmes Norton | Original | May 25, 2017 |
| D-MD | Elijah E. Cummings | Original | May 25, 2017 |
| D-NM | Michelle Lujan Grisham | Original | May 25, 2017 |
| D-MA | William R. Keating | Original | May 25, 2017 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred May 25, 2017 |
Actions 2
Everything that happened, newest first.
- May 25, 2017Introduced in House
- May 25, 2017Referred to the House Committee on Ways and Means.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 91, May 25, 2017, page H4608.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R41988 | The Section 199 Production Activities Deduction: Background and Analysis Archived | Report | Jul 6, 2017 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to make permanent the credit for increasing research activities, to increase such credit for amounts paid or incurred for qualified research occurring in the United States, and to increase the domestic production activities deduction for the manufacture of property substantially all of the research and development of which occurred in the United States.
- Short Titles as Introduced
- 21st Century Investment Act of 2017
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- May 25, 2017Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
