FORWARD Act

The Furthering Our Recovery With American Research & Development (FORWARD) Act aims to make it easier and more affordable for small businesses and startups to invest in innovation. The bill expands the existing federal research and development (R&D) tax credit by allowing more small companies to qualify and increasing the amount of money they can save when collaborating with universities or domestic manufacturers.

For the average citizen, this legislation is designed to stimulate local economies and job growth by lowering the financial barriers for new businesses to develop new technologies and products. Additionally, the bill requires the IRS and Small Business Development Centers to provide enhanced training and resources to help entrepreneurs navigate and claim these tax incentives more effectively.