3.0.0 2671 2023-01-11T13:36:38Z 2023-01-11T13:36:38Z House HR 2017-05-25 115 [Congressional Record Volume 163, Number 91 (Thursday, May 25, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BROWN of Maryland:H.R. 2671.Congress has the power to enact this legislation pursuantto the following:Commerce Clause (Art. 1, Sec. 8, Cl. 3)[Page H4608]]]> hswm00 Ways and Means Committee House Standing Referred to 2017-05-25T13:02:45Z 2017-05-25 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-05-25 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-05-25 Introduced in House IntroReferral 1000 9 Library of Congress B001304 Rep. Brown, Anthony G. [D-MD-4] Anthony Brown D MD G. 4 N N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2017-05-25 True K000375 Rep. Keating, William R. [D-MA-9] William Keating D MA R. 9 2017-05-25 True L000580 Rep. Lujan Grisham, Michelle [D-NM-1] Michelle Lujan Grisham D NM 1 2017-05-25 True C000984 Rep. Cummings, Elijah E. [D-MD-7] ELIJAH CUMMINGS D MD E. 7 2017-05-25 True C001084 Rep. Cicilline, David N. [D-RI-1] David Cicilline D RI N. 1 2017-05-25 True Taxation Income tax credits Income tax deductions Manufacturing Research and development Taxation 00 2017-05-25 Introduced in House 2017-06-07T14:51:44Z 21st Century Investment Act of 2017

This bill amends the Internal Revenue Code to: (1) modify the tax credit for increasing research activities to allow an increased 25% tax credit rate for expenses for research, substantially all of which occurs in the United States; and (2) increase to 15%, through 2024, the tax deduction for income attributable to domestic manufacturing production activities for which substantially all of the research and development occurred in the United States.

]]> 21st Century Investment Act of 2017 Display Title 21st Century Investment Act of 2017 Official Title as Introduced To amend the Internal Revenue Code of 1986 to make permanent the credit for increasing research activities, to increase such credit for amounts paid or incurred for qualified research occurring in the United States, and to increase the domestic production activities deduction for the manufacture of property substantially all of the research and development of which occurred in the United States. Introduced in House IH Short Titles as Introduced 21st Century Investment Act of 2017 Introduced in House 2017-05-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr2671ih/xml/BILLS-115hr2671ih.xml 2017-05-25 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.