America's Small Business Tax Relief Act of 2014

Hozzl · 2024-03-14T12:48:49Z

Explore the details of House Bill 4457 America's Small Business Tax Relief Act of 2014 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

3/14/2024, 12:48 PM

Congressional Summary of HR 4457

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.

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Current Status of Bill HR 4457

Bill HR 4457 is currently in the status of Bill Introduced since April 10, 2014. Bill HR 4457 was introduced during Congress 113 and was introduced to the House on April 10, 2014. Bill HR 4457's most recent activity was Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 434. as of June 17, 2014

Bipartisan Support of Bill HR 4457

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 4457

Primary Policy Focus

Taxation

Potential Impact Areas

Business investment and capitalComputers and information technologyFood industry and servicesIncome tax deductionsInflation and pricesLighting, heating, coolingRetail and wholesale trades

Alternate Title(s) of Bill HR 4457

America's Small Business Tax Relief Act of 2014To amend the Internal Revenue Code of 1986 to permanently extend increased expensing limitations, and for other purposes.America's Small Business Tax Relief Act of 2014America's Small Business Tax Relief Act of 2014America's Small Business Tax Relief Act of 2014

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