Congress 113 - HR 4457 - America's Small Business Tax Relief Act of 2014

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Topics

Business investment and capital Computers and information technology Food industry and services Income tax deductions Inflation and prices Lighting, heating, cooling Retail and wholesale trades Taxation

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Votes

Summary

America's Small Business Tax Relief Act of 2014 - Amends the Internal Revenue Code, with respect to the expensing allowance for depreciable business property, to make permanent: (1) the increased $500,000 expensing allowance for such property, (2) the increased $2,000,000 threshold amount for such property over which the amount of the expensing allowance is reduced, (3) expensing of computer software, and (4) rules for the expensing of qualified real property (i.e., leasehold improvement, restaurant, and retail improvement property). Allow an inflation adjustment to the dollar amounts of the expensing allowance for taxable years beginning after 2014. Eliminates the exclusion of air conditioning and heating units as property eligible for the expensing allowance.

Prohibits the entry of the budgetary effects of this Act on any PAYGO (Pay-As-You-Go) scorecard.

Actions

Jun 17, 2014

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 434.
Jun 16, 2014

Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Jun 12, 2014

Motion to reconsider laid on the table Agreed to without objection.
Jun 12, 2014

On passage Passed by the Yeas and Nays: 272 - 144 (Roll no. 309). (text: CR H5330)
Jun 12, 2014

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 272 - 144 (Roll no. 309).(text: CR H5330)
Jun 12, 2014

On motion to recommit with instructions Failed by the Yeas and Nays: 180 - 232 (Roll no. 308).
Jun 12, 2014

The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H5339)
Jun 12, 2014

DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions, pending the reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to extend small business expensing for two years. The point of order was subsequently withdrawn.
Jun 12, 2014

Mr. Neal moved to recommit with instructions to the Committee on Ways and Means. (consideration: CR H5338-5340; text: CR H5338)
Jun 12, 2014

The previous question was ordered pursuant to the rule. (consideration: CR H5338)
Jun 12, 2014

DEBATE - The House continued with debate on H.R. 4457.
Jun 12, 2014

DEBATE - The House proceeded with one hour of debate on H.R. 4457.
Jun 12, 2014

Considered under the provisions of rule H. Res. 616. (consideration: CR H5330-5340)
Jun 10, 2014

Rules Committee Resolution H. Res. 616 Reported to House. Rule provides for one hour of general debate on the bills. H.R. 4800 shall be considred for amendment under a modified open rule. H.R. 4457 and H.R. 4453 shall be considred for amendment under a closed rule.
May 2, 2014

Placed on the Union Calendar, Calendar No. 320.
May 2, 2014

Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-432.
Apr 29, 2014

Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 21 - 14.
Apr 29, 2014

Committee Consideration and Mark-up Session Held.
Apr 10, 2014

Referred to the House Committee on Ways and Means.
Apr 10, 2014

Introduced in House

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