A bill to amend the Internal Revenue Code of 1986 to increase the dollar limitation for the election to expense certain depreciable business assets.
Small Business Growth Act
This bill increases from $1 million to $2.5 million the limitation on expensing of depreciable business assets. It also increases the asset threshold amount used to reduce the expensing limitation.
Referred to the House Committee on Ways and Means.
Motion by Senator Schumer to reconsider the vote by which cloture on the motion to proceed to the measure was not invoked (Record Vote No. 230) made in Senate.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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