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Vote Smart Just The Facts

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- Bill Moyers

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Title: American Research and Competitiveness Act of 2014

Vote Smart's Synopsis:

Vote to pass a bill that repeals the termination date of the research tax credit.

Highlights:

Restructures the research credit for a taxable year to be the sum of the following (Sec. 2):

20 percent of the qualified research expenses that exceed 50 percent of the average qualified research expenses for the 3 preceding taxable years;
20 percent of the basic research payments that exceed 50 percent of the average basic research payments for the 3 preceding taxable years; and
20 percent of the amounts paid or incurred for the trade or business to an energy research consortium for energy research.

Establishes a tax credit rate of 10 percent for an individual who has no qualified research expenses in any 1 of the 3 preceding taxable years (Sec. 2).

See The Voting Record
Full Bill Text

Title: American Research and Competitiveness Act of 2014

Full Bill Text

Key Votes