HR 11 · 116th Congress 2019–2021, ended

Commitment to American GROWTH Act

Introduced Oct 9, 2020 Originated House Sponsor Kevin Brady R-TX

Fact sheet

Latest action · Oct 9, 2020 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.

  1. IntroducedOct 9, 2020
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Commitment to American Growth, Renewal, and Opportunities for Workers, Technology, and Health Act or the Commitment to American GROWTH Act

This bill provides tax incentives for economic growth, research and development, and small business start-ups.

Specifically, the bill

  • makes permanent the expensing of qualified property (i.e., business property with a recovery period of 20 years or less, computer software, water utility property, and certain theatrical and film properties);
  • allows full expensing (currently, amortization for 60 months) of certain research and experimental expenditures;
  • increases to 40% the rate of the tax credit for increasing research activities and increases the payroll tax offset of such credit for small businesses;
  • sets forth a rule for determining the fair market value of intangible property held by controlled foreign corporations that is transferred to U.S. shareholders;
  • allows new tax credits for domestic medical and drug manufacturing and medical manufacturing equipment;
  • exempts from the definition of passive activity, for purposes of the passive loss tax rules, medical research activity of a medical research small business pass-thru entity; and
  • revises and provides for the capitalization of start-up and organizational expenditures.

Cosponsors 15

Members who signed on, in the order they did. Signatures ran from Oct 13, 2020 to Nov 16, 2020.

SeatCosponsorSigned on
R-GAA. Drew Ferguson IVOct 13, 2020
R-NEAdrian SmithOct 13, 2020
R-TXBill FloresOct 13, 2020
R-ILDarin LaHoodOct 13, 2020
R-TNDavid KustoffOct 13, 2020
R-INJackie WalorskiOct 13, 2020
R-TXJodey C. ArringtonOct 13, 2020
R-TXKenny MarchantOct 13, 2020
R-OKKevin HernOct 13, 2020
R-KSRon EstesOct 13, 2020
R-NYTom ReedOct 13, 2020
R-OHTroy BaldersonOct 13, 2020
R-OHBrad R. WenstrupOct 20, 2020
R-PAGuy ReschenthalerOct 20, 2020
R-WVCarol D. MillerNov 16, 2020

Actions 2

Everything that happened, newest first.

  1. Oct 9, 2020Introduced in House
  2. Oct 9, 2020Referred to the House Committee on Ways and Means.

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Text 1

Each version as it was printed, newest first.

  1. Oct 9, 2020Introduced in House

Support LegiList

This page is free, carries no paywall, and is built and maintained by one person. If the record here is useful to you, a few dollars keeps it going.

$1 $5 $10

Processed by Stripe in a separate window. LegiList never sees card details.

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.