A bill to amend the Internal Revenue Code of 1986 to repeal the reduction in the deductible portion of expenses for business meals and entertainment.

Fact Sheet API

Bill Number

S 298

Introduced

Feb 7, 2005

Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1051)

Sponsor

Cosponsors

Topics

Agriculture and Food Commerce Corporation taxes 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 increase the income tax deduction for business meals and entertainment expenses from 50 percent to 70 percent in calendar year 2005, 75 percent in 2006, and 80 percent in 2008 and thereafter.

Actions

Feb 7, 2005

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1051)
Feb 7, 2005

Sponsor introductory remarks on measure. (CR S1050-1051)
Feb 7, 2005

Introduced in Senate

Amendments

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