# 117-hr-7503: American Innovation Act of 2022

117-hr-7503, American Innovation Act of 2022, is a 117th Congress bill sponsored by Rep. Buchanan, Vern [R-FL-16] (R-FL); status Referred to the House Committee on Ways and Means. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/117-hr-7503
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 117-hr-7503
- Congress: 117
- Title: American Innovation Act of 2022
- Status: Referred to the House Committee on Ways and Means.
- Introduced: 2022-04-14
- Sponsor: Rep. Buchanan, Vern [R-FL-16] (R-FL)
- Cosponsors: 3
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

American Innovation Act of 2022 This bill revises the tax treatment of business start-up or organizational expenditures. Specifically, it allows an election to deduct such expenditures in an amount equal to the lesser of the aggregate amount of such expenditures incurred by an active trade of business, or $20,000, reduced by the amount by which such aggregate amount exceeds $120,000. The remaining amount of such expenditures shall be amortized over the 180 month period after the trade or business begins. The bill also revises the tax treatment of partnership syndication fees and start-up net operating losses and tax credits after an ownership change.

## Cosponsors (3)

- Rep. Kelly, Mike [R-PA-16] (R-PA), 2022-04-14T00:00:00.000Z
- Rep. Wenstrup, Brad R. [R-OH-2] (R-OH), 2022-04-14T00:00:00.000Z
- Rep. Kustoff, David [R-TN-8] (R-TN), 2022-07-19T00:00:00.000Z

## Related bills

- 117-hr-1448: PAWS for Veterans Therapy Act
- 117-hr-5142: To award posthumously a Congressional Gold Medal, in commemoration to the servicemembers who perished in Afghanistan on August 26, 2021, during the evacuation…
- 117-hr-8351: Formula Act
- 117-hr-9143: To prevent the use of additional Internal Revenue Service funds from being used for audits of taxpayers with taxable incomes below $400,000 in order to protect…
- 117-hr-9092: Family and Small Business Taxpayer Protection Act
- 117-hr-8913: TCJA Permanency Act

## Sources
- [117-hr-7503 on Congress.gov](https://www.congress.gov/bill/117th-congress/house-bill/7503)

## Related
- [117-hr-1448: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/117-hr-1448)
- [117-hr-5142: To award posthumously a Congressional Gold Medal, in commemoration to the servi…](https://policyrisk.com/legislation/117-hr-5142)
- [117-hr-8351: Formula Act](https://policyrisk.com/legislation/117-hr-8351)
- [117-hr-9143: To prevent the use of additional Internal Revenue Service funds from being used…](https://policyrisk.com/legislation/117-hr-9143)
- [117-hr-9092: Family and Small Business Taxpayer Protection Act](https://policyrisk.com/legislation/117-hr-9092)
- [117-hr-8913: TCJA Permanency Act](https://policyrisk.com/legislation/117-hr-8913)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/117-hr-7503 (as of 2025-11-18).