A bill to repeal the reduction in the deductible portion of expenses for business meals and entertainment.

Fact Sheet API

Bill Number

S 418

Introduced

Feb 28, 2001

Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1712)

Sponsor

Cosponsors

Topics

Agriculture and Food Business income tax Commerce Costs Expense accounts Income tax Recreation Sports and Recreation Tax deductions Taxation

Full Text

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Votes

Summary

Amends the Internal Revenue Code to repeal the 50 percent income tax deduction for business meal and entertainment expenses and replace it with an increasing percentage from 68 percent in calendar 2001 up to 80 percent in calendar 2003 and thereafter.

Actions

Feb 28, 2001

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1712)
Feb 28, 2001

Sponsor introductory remarks on measure. (CR S1712)
Feb 28, 2001

Introduced in Senate

Amendments

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