A bill to amend the Internal Revenue Code of 1986 to make permanent increased expensing for small businesses.
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.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S9290)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9290)
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