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H.R. 6756: American Innovation Act of 2018

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About the bill

Source: Republican Policy Committee

H.R. 6756 intends to make it easier and less costly for an entrepreneur to start a new business by providing for more deductions of start-up and organizational costs in the business’s first year and preserving start-up losses and start-up credits by exempting them from the limitations on use that otherwise could apply after an ownership change.

Specifically, the legislation consolidates the rules for start-up expenditures (section 195) and organizational expenditures (sections 248 and 709(b)) into a single provision, allowing the taxpayer to elect to deduct up to ...

Sponsor and status

Vern Buchanan

Sponsor. Representative for Florida's 16th congressional district. Republican.

Read Text »
Last Updated: Sep 28, 2018
Length: 16 pages
Introduced:

Sep 10, 2018

Status:

Passed House (Senate next) on Sep 27, 2018

This bill passed in the House on September 27, 2018 and goes to the Senate next for consideration.

Prognosis:

20% chance of being enacted according to Skopos Labs (details)

What stakeholders are saying

Institute for Spending Reform: SpendingTracker.org estimates new spending due to H.R. 6756 will be negligible.

History

Sep 10, 2018
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Sep 13, 2018
 
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

Sep 21, 2018
 
On House Schedule

The House indicated that this bill would be considered in the week ahead.

Sep 24, 2018
 
Reported by House Committee on Ways and Means

A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions.

Sep 27, 2018
 
Passed House (Senate next)

The bill was passed in a vote in the House. It goes to the Senate next.

If this bill has further action, the following steps may occur next:
 
Passed Senate

 
Signed by the President

H.R. 6756 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 6756 — 115th Congress: American Innovation Act of 2018.” www.GovTrack.us. 2018. November 18, 2018 <https://www.govtrack.us/congress/bills/115/hr6756>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.