United States 117th Congress Status: In Committee 8 R cosponsors

HR 8253 — Fostering Innovation and Research to Strengthen Tomorrow Act

Last action — Referred to the House Committee on Ways and Means.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

In plain language

This bill increases the research tax credit and improves access for business startups.

The Fostering Innovation and Research to Strengthen Tomorrow Act amends the Internal Revenue Code to double the research tax credit rates and increase the limits for small businesses. It also modifies the income threshold for qualifying small businesses.

What this means for you
  • Small Business: This means small businesses may have greater access to funding through increased tax credits for research activities.

Summary

Fostering Innovation and Research to Strengthen Tomorrow Act This bill doubles the rate of the tax credit for increasing research expenses and the alternative simplified research tax credit. It also increases the credit rate for taxpayers with no research expenses during a specified three-year period and the amount of the credit that certain small businesses may apply against payroll tax liabilities.

Bill Text

How this bill changes current law

6 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill increases the research tax credit and modifies access for business startups by raising credit rates and thresholds.

  • Section 41(a)

    20 percent → 40 percent

    This change doubles the standard research tax credit rate.

  • Section 41(c)(4)(A)

    14 percent → 28 percent

    This change increases the alternative simplified credit rate from 14% to 28%.

  • Section 41(c)(4)(B)(ii)

    6 percent → \1/2\ the credit percentage in effect under subparagraph (A)

    This change modifies the credit for businesses without research expenses to half of the amount in subparagraph A.

  • Section 41(h)(4)(B)(i)

    $250,000 → $500,000

    This change raises the payroll tax offset limitation for small businesses from $250,000 to $500,000.

  • Section 41(h)(5)(B)(ii)

    $250,000 → $500,000

    This change similarly raises another payroll tax offset limitation from $250,000 to $500,000.

  • Section 41(h)(3)(A)(i)(I)

    $5,000,000 → the dollar amount in effect for the taxable year under section 448(c)(1)

    This change ties the gross receipts threshold for qualified small businesses to a variable amount instead of a fixed $5 million.

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Ways and Means.

Sponsors

Sponsorship breakdown

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1 sponsors · 7 co-sponsors · 539 not signed on

Sponsors (1)

Co-sponsors (7)

Not signed on (539)

539 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

taxation technology
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Frequently asked questions

What does HR 8253 do?
Fostering Innovation and Research to Strengthen Tomorrow Act This bill doubles the rate of the tax credit for increasing research expenses and the alternative simplified research tax credit. It also increases the credit rate for taxpayers with no research expenses during a specified three-year period and the amount of the credit that certain small businesses may apply against payroll tax liabilities.
Who sponsors HR 8253?
HR 8253 is sponsored by Arrington, Jodey C. (Republican), Reschenthaler, Guy (Republican), Buchanan, Vern (Republican), Kustoff, David (Republican), Van Duyne, Beth (Republican), Ferguson, A. Drew (Republican), LaHood, Darin (Republican), and Walorski, Jackie (Republican).
What is the current status of HR 8253?
This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 8253?
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