While the U.S. House of Representatives passed the last week, the bill still has an uncertain pathway in the U.S. Senate, where Republicans have taken a harder line against the proposal, calling for an amendment process. Sen. John Thune, R-S.D., said the expanded Child Tax Credit in the deal is the biggest issue for the GOP.

Key to ÀÏÅ£Ó°ÊÓmembers and the construction industry are the bill’s provisions to expand innovation and competitiveness with pro-growth economic policies that include:

• Research andÌýdevelopment expensing so businesses of all sizes can immediately deduct the cost of their U.S. R&D investments instead of over fiveÌýyears, supportingÌýinnovation and growth here at home.
• 100% expensing for business investment in U.S. facilities, equipmentÌýand machines.
• Increase in the maximum amount a taxpayer may expense from $1 million to $1.29 million for property placed in service starting in 2024.

View more information on the bill and committee markup . ÀÏÅ£Ó°ÊÓwill continue to provide updates on the bill’s progress.Ìý