S.1298: A bill to amend the Internal Revenue Code of 1986 to adjust the limits on expensing of certain depreciable business assets.

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about taxation
You can read the bill
Sponsor Mark Begich, D-Alaska
Total Cosponsors 0
Introduced July 16, 2013
Latest Major Action July 16, 2013
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Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill Summary

Amends the Internal Revenue Code to increase, for taxable years beginning after 2013: (1) the limitation on the amount of the expensing allowance for depreciable business assets from $25,000 to $200,000, and (2) the threshold amount over which such expensing allowance is reduced from $200,000 to $800,000.

(Source: Congressional Research Service)

Bill Actions

Date Description
July 16, 2013 Read twice and referred to the Committee on Finance.