Bill > HR4457

Introduced Session

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.

Committee Categories

Patrick Tiberi (R)*,  Cheri Bustos (D),  Kevin Cramer (R),  Danny Davis (D),  Jim Gerlach (R),  Tim Griffin (R),  Mike Kelly (R),  Ron Kind (D),  David Loebsack (D),  Patrick Murphy (D),  Richard Neal (D),  Randy Neugebauer (R),  Tom Reed (R),  Reid Ribble (R),  Aaron Schock (R),  Adrian Smith (R),  Jason Smith (R),  Todd Young (R), 

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 434. (on 06/17/2014)

Official Document