CONGRESS FOR VOTERS

RepublicanBill · S. 1639· Senate(119-S-1639)

American Innovation and Jobs Act

Rep. Young
Age: 54 years
Indiana
Introduced
5/7/2025
Last activity
5/7/2025 — Read twice and referred to the Committee on Finance.
Sponsored by
Todd Young
Cosponsors
Republican - 17Democrat - 17
Taxation
  1. Introduced
  2. In Committee

What this bill would do

The "American Innovation and Jobs Act" modifies the Internal Revenue Code of 1986 to provide better tax benefits for research activities. It allows taxpayers to immediately deduct research and experimental expenditures rather than capitalizing them. The bill increases the cap on refundable research credits for new and small businesses over several years. It also extends the eligibility period for certain startups to access these credits. Additionally, it raises the gross receipts threshold for the research credit and creates special rules for qualified small businesses.

Yes· 3 of 16

  • Would business owners be better off under this?+10

    Provides direct tax relief, immediate expensing of R&D, and expanded credits.

  • Does this make it easier to run a small business?+9

    Significantly expands the refundable research credit cap and extends eligibility for startups.

  • Does this cut taxes for small businesses?+8

    Increases refundable credits and provides more favorable percentage rates specifically for qualified small businesses.

The opposite· 3 of 4

  • Does this raise the taxes companies pay?-5

    The bill provides significant tax deductions and credits for businesses, effectively reducing the corporate tax burden for eligible entities.

  • Does this reduce what the federal government owes?-3

    Increased tax credits and immediate expensing likely reduce federal tax revenue, potentially increasing the deficit.

  • Does this make the government pay for what it commits to?-2

    The bill focuses on tax expenditures rather than budgetary constraints.