Securing America’s R&D Advantage Act

This bill, S 2823 (Securing America’s R&D Advantage Act), changes U.S. tax rules to boost business investment in research and development. It restores immediate deductibility for most R&D expenses (allowing businesses to deduct costs fully in the year incurred, rather than amortizing over 5 years) and adds restrictions on tax benefits for R&D conducted in "covered nations" (like China). It also increases the refundable R&D tax credit cap for small businesses from $250,000 to $750,000 over time, extends eligibility for startups from 5 to 8 years, and raises the gross receipts threshold for small business qualification from $5 million to $15 million. These changes apply to taxable years beginning after the bill's enactment date.