HR 4457 · 113th Congress · Taxation
America's Small Business Tax Relief Act of 2014
Bill Progress
1
Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 434.(2014-06-17)
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Plain Language Summary
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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 from property eligible for the expensing allowance.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 4457, America’s Small Business Tax Relief Act of 2014
May 2, 2014As ordered reported by the House Committee on Ways and Means on April 29, 2014
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (17)
6 Democrats11 Republicans