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Key Votes

HR 880 - American Research and Competitiveness Act of 2015 - National Key Vote

Peter Welch voted Nay (Passage) on this Legislation.

Read statements Peter Welch made in this general time period.

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Issues Related to HR 880

Stage Details

Legislation - Bill Passed (House) (274-145) - (Key vote)
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Title: American Research and Competitiveness Act of 2015

Vote Result
Yea Votes
Nay Votes
Vote Smart's Synopsis:

Vote to pass a bill that increases and makes permanent a tax credit for private research and development, effective after December 31, 2014.

Highlights:
  • Repeals the end date for an existing tax credit for private research and development, retroactive to December 31, 2014 (Sec. 2).
  • Specifies that the tax credit covers 20 percent of basic or otherwise qualified research costs which exceed 50 percent of the average yearly total cost over the previous 3 years (Sec. 2).
  • Specifies that the tax credit covers 10 percent of qualified research costs if a company does not have any qualified research costs for all or any of the previous 3 years (Sec. 2).
  • Specifies that the tax credit covers 20 percent of all costs paid by the taxpayer to an energy research consortium for energy research (Sec. 2). 
  • Authorizes eligible small businesses to count the tax credit against their alternative minimum tax  instead of, or in addition to, offsetting regular taxes (Sec. 2).
  • Prohibits the budgetary effects of this bill from being recorded on either PAYGO scorecard maintained pursuant to the Statutory Pay-As-You-Go Act of 2010, exempting the budgetary effects of this bill from from the Pay-As-You-Go budget balancing process wherein a sequestration is issued to compensate for accumulated increases to the budget deficit (Sec. 3).

 

Legislation - Introduced (House) -

Title: American Research and Competitiveness Act of 2015

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