To amend the Internal Revenue Code of 1986 to make permanent the increase in expensing of certain depreciable business assets enacted by the Jobs and Growth Tax Relief Reconciliation Act 2003 and extended by the American Jobs Creation Act of 2004.
Small Business Expensing Permanency Act of 2005 - Amends the Internal Revenue Code to make permanent the increased expensing allowance ($100,000) for depreciable business assets and related provisions pertaining to phaseout amounts, inflation adjustments, and the period for revocation of an election.
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9290)
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E507-508)
Referred to the House Committee on Ways and Means.
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