[Congressional Record Volume 169, Number 66 (Thursday, April 20, 2023)]
[House]
[Page H1898]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1115
               TODAY'S R&D DOLLARS CREATE TOMORROW'S JOBS

  (Mr. ESTES asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. ESTES. Mr. Speaker, I rise today to introduce the American 
Innovation and R&D Competitiveness Act.
  Our country is filled with talented innovators who put their heart 
and imagination into new ideas that advance our Nation. Through 
research and development, their incredible breakthroughs can come to 
fruition.
  Unfortunately, the R&D immediate expensing tax provision expired at 
the end of 2021, removing the incentive to prioritize research and 
development in the United States.
  By disincentivizing R&D here at home, American tax policy encourages 
manufacturing and production to move abroad. That is why I am 
reintroducing bipartisan legislation that encourages R&D throughout the 
country.
  Sixty-four original cosponsors have joined me and Congressman   John 
Larson to make R&D immediate expensing permanent, cementing this 
critical tax provision and reestablishing the United States as the 
leader in research and development.
  Today's research and development dollars create tomorrow's jobs, and 
we need to keep R&D dollars inside our country where they can help 
strengthen American businesses and workers.
  Mr. Speaker, I encourage my colleagues to join me in advancing this 
critical legislation.

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