Start-up Jobs and Innovation Act

Read twice and referred to the Committee on Finance.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Feb 3, 2015

Start-up Jobs and Innovation Act

Amends the Internal Revenue Code to: (1) make permanent the increase to $500,000 of the expensing allowance for business assets, including computer software, and the treatment of qualified real property as depreciable business property; (2) make permanent the 100% exclusion from gross income of gain from the sale or exchange of small business stock; (3) increase and equalize the tax deduction for business start-up expenses and organizational expenditures; (4) increase from $5 million to $10 million the gross receipt test used to determine the eligibility of small businesses to use simplified cash accounting and inventory rules; and (5) exempt from passive loss rules any research activity carried on by a high technology research small business pass-thru entity.

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People & committees

Who introduced it

Sen. Toomey, Patrick [R-PA] · R–PA

Committees

Finance Committee

3 cosponsorship records, including any withdrawals

Legislative record

Actions

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Feb 3, 2015
Read twice and referred to the Committee on Finance.
Feb 3, 2015
Introduced in Senate

Primary sources

Bill text & related measures

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

Introduced in Senate · Feb 3, 2015 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

HR 2179 · PARTNER Act

Source last updated: Aug 12, 2025. Consult Congress.gov for the current record.

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Objective

Analyze S.341 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.

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Discuss S.341, 114th Congress: Start-up Jobs and Innovation Act

Official record: https://www.congress.gov/bill/114th-congress/senate-bill/341

Text version to examine: Introduced in Senate · 2015-02-03.

Official full text: https://www.congress.gov/114/bills/s341/BILLS-114s341is.htm

Imported record last updated by the source: 2025-08-12T14:10:19Z. 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 S.341 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 S.341 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.

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Discuss S.341, 114th Congress: Start-up Jobs and Innovation Act

Official record: https://www.congress.gov/bill/114th-congress/senate-bill/341

Text version to examine: Introduced in Senate · 2015-02-03.

Official full text: https://www.congress.gov/114/bills/s341/BILLS-114s341is.htm

Imported record last updated by the source: 2025-08-12T14:10:19Z. 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 S.341 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 S.341 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 S.341, 114th Congress: Start-up Jobs and Innovation Act

Official record: https://www.congress.gov/bill/114th-congress/senate-bill/341

Text version to examine: Introduced in Senate · 2015-02-03.

Official full text: https://www.congress.gov/114/bills/s341/BILLS-114s341is.htm

Imported record last updated by the source: 2025-08-12T14:10:19Z. 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 S.341 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 S.341 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 S.341, 114th Congress: Start-up Jobs and Innovation Act

Official record: https://www.congress.gov/bill/114th-congress/senate-bill/341

Text version to examine: Introduced in Senate · 2015-02-03.

Official full text: https://www.congress.gov/114/bills/s341/BILLS-114s341is.htm

Imported record last updated by the source: 2025-08-12T14:10:19Z. 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 S.341 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.