- Not enactedThe President has not signed this bill
- The senate has not voted
- The house Passed July 11th, 2014Roll Call Vote 258 Yea / 160 Nay
Committee on Ways and MeansIntroducedMay 22nd, 2014
- house Committees
What is House Bill H.R. 4718?
This bill would make permanent the "50 percent bonus depreciation" tax extender. This tax extender allows businesses to immediately deduct half the cost of new business equipment investments.
The bill impacts tax deductions related to business equipment investments.
Cost of House Bill H.R. 4718
The Joint Committee on Taxation estimates that the bill would reduce federal revenues by $262,911,000 over the 2014-2024.
-If you'd like to get deep into this, the Joint Committee on Taxation is there for you.
-Deeper, you say? Well, William McBride, the Chief Economist at the Tax Foundation, has said that
extending 50 percent bonus expensing on a permanent basis would boost GDP by over 1 percent, the capital stock by over 3 percent, wages by about 1 percent, and would create 212,000 jobs.You can read his report here.