S. 866 · 118th Congress · 2023–2024
American Innovation and Jobs Act
S. 866 in the 118th Congress (2023–2024) was introduced on Mar 16, 2023, sponsored by Margaret Wood Hassan with 43 co-sponsors.
During the 118th Congress (2023–2024), Joe Biden was president, and Republicans held the House majority and Democrats the Senate majority.
- Status
- Introduced
- Introduced
- Mar 16, 2023
- Co-sponsors
- 43
- Policy area
- Taxation
What it does
American Innovation and Jobs Act This bill revises and expands the deductibility of research and experimental expenditures to allow immediate expensing of such expenditures. It also allows the amortization over a period of at least 60 months of certain other types of research and experimental expenditures not treated as expenses.
Summary by the nonpartisan Congressional Research Service.
Sponsor
Margaret Wood Hassan (D-NH). Co-sponsors: 19 Democrats, 22 Republicans, 2 Independents.
Where it stands
- IntroducedMar 16, 2023
- Passed the Senate—
- Passed the House—
- Sent to the President—
- Became law—
Latest action: Read twice and referred to the Committee on Finance. (Mar 16, 2023)
Other Taxation bills in the 118th Congress
- H.R. 1432: VETT Act
- H.R. 5863: Federal Disaster Tax Relief Act of 2023
- H.R. 3797: Paperwork Burden Reduction Act
- H.R. 3801: Employer Reporting Improvement Act
- H.R. 190: Saving Gig Economy Taxpayers Act
- H.R. 329: American Workforce Empowerment Act
- H.R. 531: Educational Choice for Children Act
- S. 596: Military Spouse Hiring Act
- H.R. 700: Supply Chain Disruptions Relief Act
- H.R. 812: Inflation Reduction Act of 2023
Committees
More
From GovInfo bill records, Congressional Research Service summaries, Voteview roll calls and lobbying reports.
Cite or embed this page
Capitol Receipts, “S. 866 (118th Congress): American Innovation and Jobs Act,” https://www.capitolreceipts.com/bill/118-s-866/american-innovation-and-jobs-act (accessed 2026-10-17).