- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedDecember 3rd, 2013
- house Committees
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Innovation, Research, and Manufacturing Act
To amend the Internal Revenue Code of 1986 to increase and make permanent the research credit.
Innovation, Research, and Manufacturing Act - Amends the Internal Revenue Code, with respect to the tax credit for increasing research activities, to: (1) increase such credit (from the sum of 20% of the excess of qualified research expenses for the taxable year over the base amount, 20% of the basic research payments, and 20% of the amounts paid by the taxpayer in carrying on any trade or business during the taxable year to an energy research consortium for energy research to the sum of 30% of each of those); (2) make such credit permanent; and (3) allow such credit to offset the employment taxes of an eligible small employer, as defined by the Small Business Act.