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house Bill H.R. 4457

Tax Deductions for Small Businesses: Keeping Current Dollar Amounts for Property Expensing in Place

Argument in favor

These deductions are lifesavers for businesses trying to survive in a post-recession economy, and dropping the total dollar amount of such deductions would railroad them.

Argument opposed

Substantially lowering tax deductions for businesses would aid in making sure that those businesses do not overextend their credit lines. Increases the deficit by $73 billion over the next decade.

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house Passed June 12th, 2014
    Roll Call Vote 272 Yea / 144 Nay
      house Committees
      Committee on Ways and Means
    IntroducedApril 10th, 2014

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What is House Bill H.R. 4457?

This bill would keep some current tax deduction levels in place for small- to medium-sized businesses. The bill deals with Section 179 of the IRS Code, which deals with property expensing. From 2010 to the end of 2013, the dollar limit for property-related tax deductions has been $500,000. As of January 1st, 2014, this dollar amount dropped to $25,000. The bill would restore those amounts to the 2013 level and retroactively apply the 500K level to all of 2014, in addition to permanently indexing the expensing limits to inflation. The US House Committee on Ways and Means passed this Act on April 29th, 2014. 

Impact

The bill most directly affects small- to medium-sized businesses at tax time.

Cost of House Bill H.R. 4457

$73.00 Billion
The staff of the Joint Committee on Taxation (JCT) estimates that enacting the bill would reduce revenues, thus increasing federal deficits, by about $73 billion over the 2014-2024 period.

More Information

AKA

America's Small Business Tax Relief Act of 2014

Official Title

To amend the Internal Revenue Code of 1986 to permanently extend increased expensing limitations, and for other purposes.