A bill to amend the Internal Revenue Code of 1986 to permanently extend the research credit, to increase the rates of the alternative incremental credit, and to provide an alternative simplified credit for qualified research expenses.
Investment in America Act of 2005 - Amends the Internal Revenue Code to: (1) make permanent the tax credit for increasing research activities; (2) increase the rates of the alternative incremental credit for certain research expenses; and (3) permit a taxpayer election of an alternative simplified tax credit for research expenses in lieu of the standard tax credit for increasing research activities.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S2740-2741)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2741-2742)
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