Tax Relief for New Businesses Act

Hozzl · 2025-05-21T03:53:17Z

Explore the details of Senate Bill 1613 Tax Relief for New Businesses Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

5/21/2025, 3:53 AM

Summary of Bill S 1613

This bill, titled "A bill to amend the Internal Revenue Code of 1986 to increase the limitations for deductible new business expenditures, to consolidate provisions for start-up and organizational expenditures, and for other purposes," was introduced in the 119th Congress on May 6, 2025. The bill aims to raise the limitations for deductible new business expenses and streamline provisions related to start-up and organizational costs within the Internal Revenue Code of 1986.

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Current Status of Bill S 1613

Bill S 1613 is currently in the status of Bill Introduced since May 6, 2025. Bill S 1613 was introduced during Congress 119 and was introduced to the Senate on May 6, 2025. Bill S 1613's most recent activity was Read twice and referred to the Committee on Finance. as of May 6, 2025

Bipartisan Support of Bill S 1613

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Policy Area and Potential Impact of Bill S 1613

Primary Policy Focus

Alternate Title(s) of Bill S 1613

A bill to amend the Internal Revenue Code of 1986 to increase the limitations for deductible new business expenditures, to consolidate provisions for start-up and organizational expenditures, and for other purposes.

Comments

Paisley Byrne

567

9 months ago

I think this bill is great! It will help small businesses like mine by allowing us to deduct more of our start-up costs. This is exactly what we need to grow and succeed. Can't wait to see how this impacts my business!