Small Business Expensing Bill Passes U.S. House of Representatives

To help create stability and growth, legislation makes permanent small business expensing as outlined in the U.S. tax code.

June 16, 2014

WASHINGTON – Last week the U.S. House of Representatives passed NACS-supported legislation, H.R. 4457, America’s Small Business Tax Relief Act, that would permanently extend small business expensing for equipment and property outlined in Section 179 of the tax code.

“This is a commonsense bill that’s about supporting small business so they can create jobs,” author U.S. Rep. Pat Tiberi said. “My bill provides predictability by making permanent a small business expensing measure that’s been part of the tax code in some form since the 1950s. Business owners across Ohio have told me that the measure reduces compliance costs for small businesses, reduces the cost of capital, and improves cash flow allowing them to invest, expand and create jobs. I am pleased my colleagues agree that creating stability for small business owners can grow the economy.”

USA Today writes that the White House threatened a veto if it comes before President Obama for his signature because it would add $73 billion to the budget deficit over the next decade.

Read more about the details of the legislation and the letter NACS sent to Capitol Hill in support of the bill here

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