S. 1144: INVEST Act of 2017

115th Congress · introduced 2017-05-17 · Taxation · Latest: Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3011-3012)

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Follow this bill, step by step

Where it came from: introduced 2017-05-17 · official record
Who proposed it: Sen. Thune, John [R-SD] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3011-3012) Not final yet: this can still change. We check for updates every day.
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

INVEST Act of 2017

Plain summary

Investment in New Ventures and Economic Success Today Act of 2017 or the INVEST Act of 2017 This bill amends the Internal Revenue Code to modify various tax deductions, accounting methods, expensing rules, and cost recovery rules that apply to businesses. The bill replaces several existing provisions relating to deductions for start-up and organizational business expenses with a consolidated deduction. The new provision applies to all business types, increases the dollar limitations for expenses that may be deducted, and reduces the amortization period for costs that exceed the expensing limit. With respect to accounting methods, the bill modifies the requirements for using the cash accounting method, inventory accounting rules for small businesses, and accounting rules that apply to certain construction contracts. The bill modifies the expensing and cost recovery rules to: increase the dollar limitation for the expensing of certain depreciable business assets, modify the rules that apply to the expensing of costs related to real property, make permanent the rule that allows businesses to elect to expense 50% of the cost of certain property and recover the remaining cost under the current depreciation rules, modify the depreciation rules for farm machinery and equipment, require the Department of the Treasury to update the schedule of class lives for depreciable property, modify the depreciation rules for luxury automobiles, modify the depreciation rules for computer or peripheral equipment used for personal purposes, and reduce the amortization period for intangible property acquired by a business.

Congressional Research Service summary (Introduced in Senate), 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

INVEST Act of 2017

Source: Congressional Research Service summary (Introduced in Senate)

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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: Sen. Thune, John [R-SD] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

John Hoeven (R-ND)

Sponsor's campaign money: Sen. Thune, John [R-SD] reported raising $4.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

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).
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115s1144.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/s>

Record fed-us-cong115-s1144 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115