To amend the Internal Revenue Code of 1986 to extend the research credit, to allow an alternative incremental research credit, and for other purposes.

Sponsor introductory remarks on measure. (CR H1689)

Congressional Research Service

Official summary

Version 00 · Introduced in House · Feb 28, 1996

Amends the Internal Revenue Code to extend through December 31, 1997, the credit for increasing research activities. Modifies the fixed-base percentage for start-up companies. Allows an individual to elect an alternative incremental credit. Makes the election of such credit applicable to the taxable year in which the election is made and for all succeeding taxable years, unless it is revoked with the consent of the Secretary of the Treasury. Increases from 65 percent to 80 percent the amount for contract research expenses with respect to amounts paid or incurred by the taxpayer to qualified research consortia for qualified research.

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People & committees

Who introduced it

Rep. Fox, Jon D. [R-PA-13] · R–PA

Committees

Ways and Means Committee

4 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Mar 5, 1996
Sponsor introductory remarks on measure. (CR H1689)
Feb 28, 1996
Referred to the House Committee on Ways and Means.
Feb 28, 1996
Introduced in House
Feb 28, 1996
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Feb 28, 1996 Formatted Text PDF

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Jan 2, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze H.R.2984 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

View full prompt & sources

Discuss H.R.2984, 104th Congress: To amend the Internal Revenue Code of 1986 to extend the research credit, to allow an alternative incremental research credit, and for other purposes.

Official record: https://www.congress.gov/bill/104th-congress/house-bill/2984

Text version to examine: Introduced in House · 1996-02-28.

Official full text: https://www.congress.gov/104/bills/hr2984/BILLS-104hr2984ih.htm

Imported record last updated by the source: 2025-01-02T17:37:48Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.2984 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.2984 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss H.R.2984, 104th Congress: To amend the Internal Revenue Code of 1986 to extend the research credit, to allow an alternative incremental research credit, and for other purposes.

Official record: https://www.congress.gov/bill/104th-congress/house-bill/2984

Text version to examine: Introduced in House · 1996-02-28.

Official full text: https://www.congress.gov/104/bills/hr2984/BILLS-104hr2984ih.htm

Imported record last updated by the source: 2025-01-02T17:37:48Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.2984 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.2984 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.2984, 104th Congress: To amend the Internal Revenue Code of 1986 to extend the research credit, to allow an alternative incremental research credit, and for other purposes.

Official record: https://www.congress.gov/bill/104th-congress/house-bill/2984

Text version to examine: Introduced in House · 1996-02-28.

Official full text: https://www.congress.gov/104/bills/hr2984/BILLS-104hr2984ih.htm

Imported record last updated by the source: 2025-01-02T17:37:48Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.2984 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.2984 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.2984, 104th Congress: To amend the Internal Revenue Code of 1986 to extend the research credit, to allow an alternative incremental research credit, and for other purposes.

Official record: https://www.congress.gov/bill/104th-congress/house-bill/2984

Text version to examine: Introduced in House · 1996-02-28.

Official full text: https://www.congress.gov/104/bills/hr2984/BILLS-104hr2984ih.htm

Imported record last updated by the source: 2025-01-02T17:37:48Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.2984 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.