To amend the Internal Revenue Code of 1986 to permanently extend increased expensing limitations, and for other purposes.
America's Small Business Tax Relief Act of 2014 - Amends the Internal Revenue Code, with respect to the expensing allowance for depreciable business property, to make permanent: (1) the increased $500,000 expensing allowance for such property, (2) the increased $2,000,000 threshold amount for such property over which the amount of the expensing allowance is reduced, (3) expensing of computer software, and (4) rules for the expensing of qualified real property (i.e., leasehold improvement, restaurant, and retail improvement property). Allow an inflation adjustment to the dollar amounts of the expensing allowance for taxable years beginning after 2014. Eliminates the exclusion of air conditioning and heating units as property eligible for the expensing allowance.
Prohibits the entry of the budgetary effects of this Act on any PAYGO (Pay-As-You-Go) scorecard.
Sponsor introductory remarks on measure. (CR E1800-1801)
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 597.
Referred to the House Committee on Ways and Means.
Referred to the Subcommittee on Public Lands and Environmental Regulation.
Read twice and referred to the Committee on Finance.
Read twice and referred to the Committee on Finance.
On agreeing to the resolution Agreed to by recorded vote: 227 - 189 (Roll no. 299). (consideration: CR H5259)
Referred to the House Committee on Ways and Means.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 21 - 14.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-432.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-432.
Placed on the Union Calendar, Calendar No. 320.
Rules Committee Resolution H. Res. 616 Reported to House. Rule provides for one hour of general debate on the bills. H.R. 4800 shall be considred for amendment under a modified open rule. H.R. 4457 and H.R. 4453 shall be considred for amendment under a closed rule.
Considered under the provisions of rule H. Res. 616. (consideration: CR H5330-5340)
DEBATE - The House proceeded with one hour of debate on H.R. 4457.
DEBATE - The House continued with debate on H.R. 4457.
The previous question was ordered pursuant to the rule. (consideration: CR H5338)
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line
Mr. Neal moved to recommit with instructions to the Committee on Ways and Means. (consideration: CR H5338-5340; text: CR H5338)
DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions, pending the reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to extend small business expensing for two years. The point of order was subsequently withdrawn.
The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H5339)
On motion to recommit with instructions Failed by the Yeas and Nays: 180 - 232 (Roll no. 308).
Roll Call #308 (House)Passed/agreed to in House: On passage Passed by the Yeas and Nays: 272 - 144 (Roll no. 309).(text: CR H5330)
Roll Call #309 (House)On passage Passed by the Yeas and Nays: 272 - 144 (Roll no. 309). (text: CR H5330)
Roll Call #309 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 434.