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house Bill H.R. 4718

Permanently Extending a 50% Tax Deduction for the Cost of New Business Equipment Expenses

Argument in favor

Allows businesses of all sizes to invest in their own productivity, thereby helping themselves while creating new jobs.

Argument opposed

Can my yacht be a "new business equipment investment" if I make shady brokerage deals from it?

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house Passed July 11th, 2014
    Roll Call Vote 258 Yea / 160 Nay
      house Committees
      Committee on Ways and Means
    IntroducedMay 22nd, 2014

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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. 

Impact

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.

More Information

Media:

-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.

Official Title

To amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation.

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