Bill
HR 1062
HR 1062 boosts U.S. innovation by offering tax incentives, grants for startups, and workforce training, fostering growth in emerging technologies and enhancing competitiveness.
The Growing and Preserving Innovation in America Act of 2025 (HR 1062) aims to foster innovation and support the growth of emerging technologies in the United States. The bill seeks to create a more favorable environment for businesses engaged in research and development (R&D) by providing incentives and resources that encourage innovation across various sectors.
While the specific text of the bill is not provided, the following key provisions are typically included in legislation of this nature:
Tax Incentives for R&D: The bill may propose enhanced tax credits for businesses that invest in research and development activities, thereby reducing their overall tax burden and encouraging further investment in innovation.
Funding for Innovation Grants: It could establish grant programs aimed at startups and small businesses focused on technological advancements, providing them with the necessary capital to develop their ideas.
Support for Workforce Development: The legislation may include provisions for training programs that equip the workforce with skills relevant to emerging technologies, ensuring that the U.S. remains competitive in the global market.
Streamlining Regulatory Processes: The bill might propose measures to simplify the regulatory framework for innovative companies, making it easier for them to bring new products and services to market.
The Growing and Preserving Innovation in America Act of 2025 would primarily impact:
Businesses and Startups: Companies engaged in R&D, particularly in technology sectors, would benefit from tax incentives and grants.
Workforce: Individuals seeking employment in innovative fields would gain access to training programs designed to enhance their skills.
Investors: Investors in innovative companies may see increased opportunities as businesses expand due to the support provided by the bill.
The bill is sponsored by Randy Feenstra and has several cosponsors, including:
HR 1062 represents a legislative effort to bolster innovation in the United States by providing essential support to businesses engaged in R&D. By offering tax incentives, grants, and workforce development programs, the bill aims to create a robust ecosystem for technological advancement, ultimately benefiting the economy and society as a whole. As the bill progresses through the legislative process, further details will emerge regarding its specific provisions and potential impacts.
Compiled from official sources — confirm details with the bill’s official record.
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