H. Rept. 114-113 1 (2015-05-14)

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                   114TH CONGRESS                                       REPORT
                      1st Session    HOUSE OF REPRESENTATIVES           114-113







                      AMERICAN RESEARCH AND COMPETITIVENESS ACT OF
                                                 2015



                     MAY 14, 2015.-Committed to the Committee of the Whole House on the State of
                                      the Union and ordered to be printed



                    Mr. RYAN of Wisconsin, from the Committee on Ways and Means,
                                        submitted the following


                                           REPORT

                                             together with

                                         DISSENTING VIEWS

                                         [To accompany H.R. 880]

                             [Including cost estimate of the Congressional Budget Office]

                     The Committee on Ways and Means, to whom was referred the
                   bill (H.R. 880) to amend the Internal Revenue Code of 1986 to sim-
                   plify and make permanent the research credit, having considered
                   the same, report favorably thereon with an amendment and rec-
                   ommend that the bill as amended do pass.
                                               CONTENTS
                                                                                 Page
                      I. SUMMARY AND  BACKGROUND   ...............................................................  3
                           A. Purpose  and  Sum m ary  ....................................................................  3
                           B. Background  and  Need  for Legislation  ............................................  4
                           C. Legislative  H istory  ...........................................................................  4
                     II. EXPLANATION OF THE BILL ..................................................................  5
                           A. Research Credit Simplified and Made Permanent (sec. 41 of
                               the C ode)  .........................................................................................  5
                     III. VOTES  OF  THE  COMMITTEE    ....................................................................  9
                     IV. BUDGET EFFECTS OF THE BILL ...........................................................  10
                           A. Committee Estimate of Budgetary Effects ......................................  10
                           B. Statement Regarding New Budget Authority and Tax Expendi-
                               tures  Budget  Authority  ..................................................................  12
                            C. Cost Estimate Prepared by the Congressional Budget Office .......  12
                     V. OTHER MATTERS TO BE DISCUSSED UNDER THE RULES OF
                         TH E H O U SE  ..............................................................................................  15
                           A. Committee Oversight Findings and Recommendations .................  15
                           B. Statement of General Performance Goals and Objectives .............  15
                       49-006

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