To amend the Internal Revenue Code of 1986 to accelerate the phasein of the deduction for domestic production activities.

Amends the Internal Revenue Code to to eliminate the phase-in of the tax deduction for income attributable to domestic production activities and permit the full 9% deduction amount for taxable years beginning after 2008.

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4189 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 4189

To amend the Internal Revenue Code of 1986 to accelerate the phasein of 
           the deduction for domestic production activities.


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                    IN THE HOUSE OF REPRESENTATIVES

                            December 3, 2009

 Mr. Manzullo introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to accelerate the phasein of 
           the deduction for domestic production activities.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. ACCELERATING THE PHASEIN OF DOMESTIC PRODUCTION ACTIVITIES 
              DEDUCTION.

    (a) In General.--Subsection (a) of section 199 of the Internal 
Revenue Code of 1986 (relating to allowance of deduction) is amended to 
read as follows:
    ``(a) Allowance of Deduction.--There shall be allowed as a 
deduction an amount equal to 9 percent of the lesser of--
            ``(1) the qualified production activities income of the 
        taxpayer for the taxable year, or
            ``(2) taxable income (determined without regard to this 
        section) for the taxable year.''.
    (b) Conforming Amendment.--Paragraph (2) of section 199(d) of such 
Code is amended by striking ``subsection (a)(1)(B)'' and inserting 
``subsection (a)(2)''.
    (c) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2008.
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