American Research and Competitiveness Act of 2014 2014-05-09 Passed House amended American Research and Competitiveness Act of 2014 - Amends the Internal Revenue Code to establish a permanent research tax credit that allows for: (1) 20% of the qualified or basic research expenses that exceed 50% of the average qualified or basic research expenses for the 3 preceding taxable years, and (2) 20% of amounts paid to an energy research consortium for energy research. Reduces such credit rate to 10% if a taxpayer has no qualified research expenses in any one of the 3 preceding taxable years.

Prohibits the entry of the budgetary effects of this Act on any PAYGO scorecard.

]]> 2014-05-02 Reported to House amended American Research and Competitiveness Act of 2014 - Amends the Internal Revenue Code to establish a permanent research tax credit that allows for: (1) 20% of the qualified or basic research expenses that exceed 50% of the average qualified or basic research expenses for the 3 preceding taxable years, and (2) 20% of amounts paid to an energy research consortium for energy research. Reduces such credit rate to 10% if a taxpayer has no qualified research expenses in any one of the 3 preceding taxable years.

]]> 2014-04-09 Introduced in House American Research and Competitiveness Act of 2014 - Amends the Internal Revenue Code to revise the formula for calculating the amount of the reseach tax credit and make such revised credit permanent.

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