American Research and Competitiveness Act of 2014

Bill: 113-hr-4438
Sponsor: Rep. Brady, Kevin [R-TX-8]
Introduced: 2014-04-09 in the House
Policy area: Taxation
Subjects: Business expenses
Income tax credits
Research and development

Summary:
action_date: 2014-04-09
text: 
American Research and Competitiveness Act of 2014 - Amends the Internal Revenue Code to revise the formula for calculating the amount of the reseach tax credit and make such revised credit permanent. 

action_date: 2014-05-02
text: 
American Research and Competitiveness Act of 2014 - Amends the Internal Revenue Code to establish a permanent research tax credit that allows for: (1) 20% of the qualified or basic research expenses that exceed 50% of the average qualified or basic research expenses for the 3 preceding taxable years, and (2) 20% of amounts paid to an energy research consortium for energy research. Reduces such credit rate to 10% if a taxpayer has no qualified research expenses in any one of the 3 preceding taxable years. 

action_date: 2014-05-09
text: 
American Research and Competitiveness Act of 2014 - Amends the Internal Revenue Code to establish a permanent research tax credit that allows for: (1) 20% of the qualified or basic research expenses that exceed 50% of the average qualified or basic research expenses for the 3 preceding taxable years, and (2) 20% of amounts paid to an energy research consortium for energy research. Reduces such credit rate to 10% if a taxpayer has no qualified research expenses in any one of the 3 preceding taxable years. 
 
Prohibits the entry of the budgetary effects of this Act on any PAYGO scorecard.


Legislative actions:
action_date: 2014-05-12
text: Received in the Senate.
action_date: 2014-05-09
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2014-05-09
text: On passage Passed by the Yeas and Nays: 274 - 131 (Roll no. 211). (text: CR 5/8/2014 H3980-3981)
action_date: 2014-05-09
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 274 - 131 (Roll no. 211).(text: CR 5/8/2014 H3980-3981)
action_date: 2014-05-09
text: On motion to recommit with instructions Failed by the Yeas and Nays: 191 - 209 (Roll no. 210).
action_date: 2014-05-09
text: The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H4022)
action_date: 2014-05-09
text: DEBATE - The House proceeded with 10 minutes of debate on the Kirkpatrick motion to recommit with instructions. The instructions contained in the motion seek to ensure that businesses can only claim the Research and Development credit for expenses attributable to wages if they: (1) guarantee female employees receive equal pay for equal work; (2) give priority to hiring unemployed Americans, especially veterans; and (3) do not outsource American jobs. Additionally, the motion ensures that the underlying legislation cannot take effect if it increases the deficit.
action_date: 2014-05-09
text: Mrs. Kirkpatrick moved to recommit with instructions to the Committee on Ways and Means. (consideration: CR H4021-4022; text: CR H4021)
action_date: 2014-05-09
text: Considered as unfinished business. (consideration: CR H4021-4023)
action_date: 2014-05-08
text: POSTPONED PROCEEDINGS - The Chair announced that pursuant to clause 1(c) of rule 19, further proceedings on H.R. 4438 would be postponed.
action_date: 2014-05-08
text: The previous question was ordered pursuant to the rule. (consideration: CR H3988)
action_date: 2014-05-08
text: DEBATE - The House resumed with the remaining 28 and 3/4 minutes of debate.
action_date: 2014-05-08
text: Considered as unfinished business. (consideration: CR H3985-3988)
action_date: 2014-05-08
text: POSTPONED PROCEEDINGS - The Chair announced that pursuant to clause 1(c) of rule 19, further proceedings on H.R. 4438 would be postponed.
action_date: 2014-05-08
text: DEBATE - The House proceeded with one hour of debate on H.R. 4438.
action_date: 2014-05-08
text: Rule provides for consideration of H.R. 4438 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. All points of order against consideration of the bill are waived. The amendment in the nature of a substitute recommended by the Committee on Ways and Means now printed in the bill shall be considered as adopted.
action_date: 2014-05-08
text: Considered under the provisions of rule H. Res. 569. (consideration: CR H3980-3985; text of measure as reported in House: CR H3980-3981)
action_date: 2014-05-07
text: Rule H. Res. 569 passed House.
action_date: 2014-05-06
text: Rules Committee Resolution H. Res. 569 Reported to House. Rule provides for consideration of H.R. 4438 with 1 hour and 30 minutes of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Bill is closed to amendments. All points of order against consideration of the bill are waived. The amendment in the nature of a substitute recommended by the Committee on Ways and Means now printed in the bill shall be considered as adopted.
action_date: 2014-05-02
text: Placed on the Union Calendar, Calendar No. 319.
action_date: 2014-05-02
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-431.
action_date: 2014-05-02
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-431.
action_date: 2014-04-29
text: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 22 - 12.
action_date: 2014-04-29
text: Committee Consideration and Mark-up Session Held.
action_date: 2014-04-09
text: Referred to the House Committee on Ways and Means.
action_date: 2014-04-09
text: Introduced in House
action_date: 2014-04-09
text: Introduced in House