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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Ways and Means
    IntroducedJune 14th, 2013

Bill Details

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Title

Jumpstarting Our Business Sector Act of 2013

Official Title

To amend the Internal Revenue Code of 1986 to provide individual and corporate income tax relief and to extend 100 percent bonus depreciation, and for other purposes.

Summary

Jumpstarting Our Business Sector Act of 2013 - Amends the Internal Revenue Code to: (1) eliminate the corporate income tax and the alternative minimum tax (AMT) on corporations in taxable years beginning after 2013; (2) exclude net capital gain from gross income; (3) extend for three years the increased depreciation allowance (bonus depreciation), the 100% expensing allowance for business assets, and the election to accelerate the AMT tax credit in lieu of bonus depreciation; and (4) repeal the estate, gift, and generation-skipping transfer taxes.