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CREATE JOBS Act

7/8/2025, 8:22 PM

Summary of Bill S 2056

This bill, designated as S. 2056 in the 119th Congress, aims to amend the Internal Revenue Code of 1986 to establish a permanent tax deduction for investments in qualified property at the time of the investment. The bill's primary focus is on modifying tax provisions related to qualified property investments, with the intention of providing long-term benefits and incentives in the tax code.

Current Status of Bill S 2056

Bill S 2056 is currently in the status of Bill Introduced since June 12, 2025. Bill S 2056 was introduced during Congress 119 and was introduced to the Senate on June 12, 2025.  Bill S 2056's most recent activity was Read twice and referred to the Committee on Finance. as of June 12, 2025

Bipartisan Support of Bill S 2056

Total Number of Sponsors
8
Democrat Sponsors
0
Republican Sponsors
8
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 2056

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 2056

A bill to amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment in qualified property is made, and for other purposes.
A bill to amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment in qualified property is made, and for other purposes.

Comments

Finnegan Miles profile image

Finnegan Miles

629

8 months ago

I'm not sure about this new tax bill. It could impact my wallet in a big way. Gonna have to do some more research on it.

Robin Cooper profile image

Robin Cooper

566

7 months ago

I am extremely concerned about this new bill that was recently passed. It seems like it will only benefit a select few while leaving the rest of us struggling to make ends meet. The lack of transparency and accountability in this bill is alarming, and I fear that it will only lead to more inequality and hardship for hardworking Americans like myself. In the short term, I can only see this bill causing more harm than good.

Atharv Kearney profile image

Atharv Kearney

619

7 months ago

This bill is a disaster! It's going to hurt my wallet and my community. How will it actually create jobs when it's just giving handouts to big corporations?