PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Ways and Means.
Congressional Research Service
Version 00 · Introduced in House · Oct 9, 2020
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
Showing the opening paragraphs of the official summary.
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.
People & committees
Rep. Brady, Kevin [R-TX-8] · R–TX
Legislative record
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Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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