S. 749: American Innovation and Jobs Act

117th Congress · introduced 2021-03-15 · Taxation · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2021-03-15 · official record
Who proposed it: Sen. Hassan, Margaret Wood [D-NH] · 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. 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

American Innovation and Jobs Act

Plain summary

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. The bill increases the maximum amount eligible for the tax credit for new and small businesses and increases to 20% the rate of the credit for business startups.

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

American Innovation and Jobs Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

Arguments for (supporters)

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Alternatives

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

Officials and money

Sponsor: Sen. Hassan, Margaret Wood [D-NH] · 35 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Todd Young (R-IN), Catherine Cortez Masto (D-NV), Mark Kelly (D-AZ), Shelley Moore Capito (R-WV), Christopher A. Coons (D-DE), Steve Daines (R-MT), Jeanne Shaheen (D-NH), Jacky Rosen (D-NV), John Boozman (R-AR), Tammy Baldwin (D-WI), John Kennedy (R-LA), Alex Padilla (D-CA), John Barrasso (R-WY), Roger Marshall (R-KS), Mark R. Warner (D-VA), Jerry Moran (R-KS), John W. Hickenlooper (D-CO), Roger F. Wicker (R-MS), Patty Murray (D-WA), Tommy Tuberville (R-AL), Amy Klobuchar (D-MN), Deb Fischer (R-NE), Gary C. Peters (D-MI), Joni Ernst (R-IA), Tim Kaine (D-VA), Thom Tillis (R-NC), Bill Hagerty (R-TN)

Sponsor's campaign money: Sen. Hassan, Margaret Wood [D-NH] reported raising $3.2 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 (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

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117s749.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/s>

Record fed-us-cong117-s749 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117