; relating to accountability for administrative actions). 404. Educational assistance exclusion from gross income increased (a) Section 127(b)(2) of the Internal Revenue Code of 1986 is amended to read as follows: (2) Maximum exclusion (A) In general If but for this paragraph, this section would exclude from gross income more than the maximum amount of educational assistance furnished to an individual during a calendar year, this section shall apply only to the maximum amount of such assistance so furnished. (B) Maximum amount For purposes of subparagraph (B), the term maximum amount means, for any calendar year, an amount equal to the applicable dollar amount for elective deferrals described in section 402(g)(1)(B) (as such amount is adjusted for inflation for such calendar year). . (b) Effective date The amendment made by this section shall apply to educational assistance furnished in taxable years beginning after December 31, 2020. (a) In general Section 174 of the Internal Revenue Code of 1986 is amended to read as follows: 174. Research and experimental expenditures (a) Treatment as expenses (1) In general A taxpayer may treat research or experimental expenditures which are paid or incurred by him during the taxable year in connection with his trade or business as expenses which are not chargeable to capital account. The expenditures so treated shall be allowed as a deduction. (2) When method may be adopted (A) Without consent A taxpayer may, without the consent of the Secretary, adopt the method provided in this subsection for his first taxable year for which expenditures described in paragraph (1) are paid or incurred. (B) With consent A taxpayer may, with the consent of the Secretary, adopt at any time the method provided in this subsection. (3) Scope The method adopted under this subsection shall apply to all expenditures described in paragraph (1). The method adopted shall be adhered to in computing taxable income for the taxable year and for all subsequent taxable years unless, with the approval of the