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H.R. 6756: American Innovation Act of 2018

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H.R. 6756: American Innovation Act of 2018

115th Congress · introduced 2018-09-10 · Taxation · Latest: Received in the Senate and Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2018-09-10 · official record
  2. Who proposed it: Rep. Buchanan, Vern [R-FL-16] · what a sponsor is
  3. What happened next: 1 recorded vote in our records. Latest: House roll call 412 (2018): On Passage, HR6756 (2018-09-27), Passed. See all
  4. Where it stands now: Received in the Senate and Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

American Innovation Act of 2018

Plain summary

American Innovation Act of 2018 This bill consolidates and expands the existing tax deductions for start-up expenditures and organizational expenditures of taxpayers beginning an active trade or business. For the year in which an active trade or business begins, the bill allows a single deduction equal to the lesser of (1) the aggregate amount of start-up and organizational expenditures paid or incurred in connection with the active trade or business, or (2) $20,000, reduced (but not below zero) by the amount by which the aggregate amount exceeds $120,000. The $20,000 and $120,000 limits must be adjusted for inflation after 2019. The bill also allows a start-up business to use net operating loss carryforwards, net operating losses, and unused general business tax credits after an ownership change without being subject to certain limitations required under current law.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

American Innovation Act of 2018

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Buchanan, Vern [R-FL-16] · 26 cosponsors

Cost estimate: CBO cost estimate: H.R. 6756, American Innovation Act of 2018 (2018-09-21)

Cosponsors on this site

Adrian Smith (R-NE), Mike Kelly (R-PA), Jason Smith (R-MO), David Schweikert (R-AZ), Darin LaHood (R-IL), Marsha Blackburn (R-TN), Ron Estes (R-KS)

Sponsor's campaign money: Rep. Buchanan, Vern [R-FL-16] reported raising $932,898 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

Recorded votes

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong115-hr6756 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115