The civic record
Read. Follow. Verify.Hearing on Tax Incentives for Small Business Innovation
Record date · January 1, 2023
Track this bill to get notified when it advances a stage. One tap to stop, anytime.
What This Bill Does
The House Subcommittee on Economic Growth, Tax, and held a hearing to discuss how tax policies, specifically research and development (R&D) expensing and , impact small business innovation. Witnesses and committee members examined how these tax incentives influence the ability of small firms to invest in new technologies and manage financial risk.
This hearing explores potential changes to tax rules regarding R&D deductions and equipment depreciation that directly affect the cash flow and investment capacity of small businesses.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Small business owners
These individuals are directly affected by changes to tax code provisions that dictate how they can deduct R&D expenses and depreciate business equipment.
Key Facts
- The hearing focused on the impact of R&D expensing and bonus depreciation on small business operations.
- Small businesses often face challenges with capital access and limited workforces when attempting R&D investments.
- The Subcommittee heard testimony from business leaders representing Sterman Masser Inc. and Ashland Technologies Inc.
- The Tax Law Center at NYU Law provided expert testimony regarding climate-related tax policy.
Show all 6 facts
- The hearing was held on June 6, 2023, in the Rayburn House Office Building.
- Several organizations submitted additional material for the record, including the Biotechnology Innovation Organization and the National Association of Manufacturers.
Frequently Asked Questions
What is the purpose of this hearing?
Who testified at the hearing?
What else do you want to know?
News Coverage
Follow the record
Votes, people, money & the original sourceFull breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Focus on R&D Tax Incentives
The committee is actively investigating the impact of recent tax code changes on small business R&D investment, suggesting potential future legislative interest in this area.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance40How much this matters to a regular citizen
- Controversy20Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz10Current news / social attention level
Publisher tools