S-1298 : Still Just a Bill

Amends the Internal Revenue Code to increase, for taxable years beginning after 2013: (1) the limitation on the amount of the expensing allowance for depreciable business assets from $25,000 to $200,000, and (2) the threshold amount over which such expensing allowance is reduced from $200,000 to $800,000.

Action Timeline

Action DateTypeTextSource
2013-07-16IntroReferralRead twice and referred to the Committee on Finance.Senate
2013-07-16IntroReferralIntroduced in SenateLibrary of Congress

Sponsor :

Sen. Begich, Mark [D-AK]
See Cosponsors

Policy Area :

Taxation
See Subjects
  • Business investment and capital
  • Income tax deductions

Related Bills

See Related Bills