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- S.2287
S.2287: A bill to amend the Internal Revenue Code of 1986 to increase and permanently extend the expensing of certain depreciable business assets for small businesses.
About This Bill
- This bill was introduced in the 109th Congress
- This bill is primarily about taxation
- Introduced Feb. 15, 2006
- Latest Major Action Feb. 15, 2006
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
5 (All Republicans)
Bill Summary
Amends the Internal Revenue Code to: (1) increase the expensing allowance for depreciable business property from $100,000 to $200,000; (2) make such allowance permanent; (3) increase to $800,000 the asset cost threshold for calculating reductions in such allowance; (4) allow an annual inflation adjustment to the expensing allowance and the threshold amount after 2007; and (5) allow a taxpayer to revoke an election to expense such business...
(Source: Library of Congress)
Bill Actions
Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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Feb. 15, 2006 |
Introduced in the Senate by Olympia J. Snowe (R-Maine) |