Small Business Growth Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 354 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 354 To amend the Internal Revenue Code of 1986 to increase the limitations on expensing of depreciable business assets. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 13, 2025 Mr. Moore of Utah (for himself, Mr. Buchanan, Mr. Smith of Nebraska, Mr. Smucker, Mrs. Miller of West Virginia, Mr. Fitzpatrick, and Ms. Tenney) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to increase the limitations on expensing of depreciable business assets. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Small Business Growth Act''. SEC. 2. INCREASE IN LIMITATIONS ON EXPENSING OF DEPRECIABLE BUSINESS ASSETS. (a) In General.--Section 179(b) of the Internal Revenue Code of 1986 is amended-- (1) by striking …