A bill to amend the Internal Revenue Code of 1986 to provide for an increase in expensing under section 179.

Fact Sheet API

Bill Number

S 2023

Introduced

Mar 15, 2002

Latest Action

Read twice and referred to the Committee on Finance.

Sponsor

Cosponsors

Topics

Business income tax Commerce Depreciation and amortization Income tax Tax deductions Taxation

Full Text

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Votes

Summary

Amends the Internal Revenue Code by raising the section 179 expensing limitation to $40,000 and the total at which phaseout of maximum benefit begins to $325,000.

Actions

Mar 15, 2002

Read twice and referred to the Committee on Finance.
Mar 15, 2002

Sponsor introductory remarks on measure. (CR S1979-1980)
Mar 15, 2002

Introduced in Senate

Amendments

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