3.0.0 2841 2022-11-01T05:17:28Z 2022-11-01T05:17:28Z Senate S 2019-11-13 116 ssfi00 Finance Committee Senate Standing Referred to 2019-11-13T16:23:16Z American Innovation Act of 2020 116 7505 HR 2020-07-09 Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Related bill CRS 2019-11-13 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2019-11-13 Introduced in Senate IntroReferral 10000 9 Library of Congress B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI N H001061 Sen. Hoeven, John [R-ND] John Hoeven R ND 2019-11-13 True Taxation Business expenses Business investment and capital Corporate finance and management Income tax deductions Inflation and prices Small business Taxation 00 2019-11-13 Introduced in Senate 2019-11-29T14:22:14Z Support Our Start-Ups Act

This bill amends the Internal Revenue Code to extend the tax deduction for new business expenditures to organizational expenditures, generally defined as expenditures incident to the creation of a corporation or a partnership.

The bill also increases the maximum deduction amount for start-up and organizational expenditures from $5,000 to $20,000 and increases from $50,000 to $120,000 the threshold amount after which the maximum deduction amount for such expenditures is reduced.

]]> Support Our Start-Ups Act Display Title Support Our Start-Ups Act Short Title(s) as Introduced Support Our Start-Ups Act Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to increase the limitations for deductible new business expenditures and to consolidate provisions for start-up and organizational expenditures. Introduced in Senate IS Introduced in Senate 2019-11-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s2841is/xml/BILLS-116s2841is.xml 2019-11-13 Read twice and referred to the Committee on Finance. 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.