REACH Act
Latest action · Jun 7, 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.
- IntroducedJun 7, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Research and Experimentation Advances Competitiveness at Home Act or the REACH Act
This bill amends the Internal Revenue Code, with respect to the tax credit for increasing research activities (known as the research and experimentation tax credit), to:
- increase the alternative simplified credit rate to match the rate of the regular credit;
- allow taxpayers to use reasonable estimation techniques in lieu of contemporaneous accounting to measure employee hours per business component;
- allow employees engaging in the direct supervision or direct support of research activities which constitute qualified research to be included in the research expense calculation without regard to the employee's position or management level;
- allow the credit to be used for research related to the adaptation of an existing business component to a particular customer's requirement or need, cost reduction, or obsolescence mitigation; and
- allow taxpayers to make an election for a reduced credit (in order to be allowed a full deduction for research expenses) on an amended tax return.
Cosponsors 14
Members who signed on, in the order they did. Signatures ran from Jun 7, 2017 to Nov 14, 2017, with 1 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CT | John B. Larson | Original | Jun 7, 2017 |
| R-MO | Jason Smith | Jul 17, 2017 | |
| D-OR | Earl Blumenauer | Jul 25, 2017 | |
| R-MN | Erik Paulsen | Jul 26, 2017 | |
| R-PA | Mike Kelly | Jul 27, 2017 | |
| D-WI | Ron Kind | Jul 27, 2017 | |
| D-OR | Suzanne Bonamici | Jul 27, 2017 | |
| R-TX | Pete Sessions | Aug 15, 2017 | |
| R-MI | Mike Bishop | Sep 5, 2017 | |
| D-CA | Linda T. Sánchez | Sep 7, 2017 | |
| R-KS | Lynn Jenkins | Sep 25, 2017 | |
| R-WA | David G. Reichert | Oct 4, 2017 | |
| R-IA | Rod Blum | Oct 12, 2017 | |
| R-AZ | Andy Biggs | Nov 14, 2017 |
Actions 2
Everything that happened, newest first.
- Jun 7, 2017Introduced in House
- Jun 7, 2017Referred to the House Committee on Ways and Means.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2197 | A bill to amend the Internal Revenue Code of 1986 to reform the credit for increasing research activities, and for other purposes. | Related bill | Dec 6, 2017 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jun 7, 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.