H.R. 2673 · 118th Congress

Lets businesses deduct research costs right away instead of over five years

Official title: American Innovation and R&D Competitiveness Act of 20231

Never got a floor voteBusiness tax breaks

§1What it does

Why this matters: A plain-English description of the bill as it was voted on, written by us from the official summary and text.

Drafted by AI from the public sources cited. Each sentence links to its source.

This bill would repeal a tax rule requiring businesses to spread their deductions for research and experimental costs over five years, so they could keep deducting those costs in full in the year the costs are incurred.2,3 Spreading a deduction over several years is known as amortization, while deducting the full cost right away is known as expensing.3

§2Status

StatusLatest action, April 20, 2023: Sponsor introductory remarks on measure. (CR H1898)1
IntroducedApril 18, 2023
SponsorRep. Estes, Ron [R-KS-4]
Cosponsors223 cosponsors (105 Democratic, 118 Republican)
Official recordH.R. 2673 on Congress.gov

§3It never got a vote

Why this matters: This bill had wide support from both parties, but it never reached the House or Senate floor, so no member of Congress was ever recorded voting for or against it.

Latest action, April 20, 2023: Sponsor introductory remarks on measure. (CR H1898)1 How bills die without a vote.

2026 candidates who sponsored or cosponsored it (151)