3.0.0 1797 2023-01-11T19:49:46Z 2023-01-11T19:49:46Z House H HR 2007-03-29 110 hswm00 Ways and Means Committee House Standing Referred to 2007-03-29T14:14:00Z 110 5085 HR 2008-01-22 Referred to the House Committee on Ways and Means. Related bill CRS 2007-03-30 Sponsor introductory remarks on measure. (CR E701-702) IntroReferral B00100 9 Library of Congress 2007-03-29 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2007-03-29 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-03-29 Introduced in House IntroReferral 1000 9 Library of Congress H000528 Rep. Herger, Wally [R-CA-2] WALLY HERGER R CA 2 N B000755 Rep. Brady, Kevin [R-TX-8] KEVIN BRADY R TX 8 2007-03-29 True E000187 Rep. English, Phil [R-PA-3] PHIL ENGLISH R PA 3 2007-03-29 True M001152 Rep. Musgrave, Marilyn N. [R-CO-4] Marilyn Musgrave R CO N. 4 2007-03-29 True G000280 Rep. Goode, Virgil H., Jr. [R-VA-5] VIRGIL GOODE R VA H. 5 2007-04-20 False M001159 Rep. McMorris Rodgers, Cathy [R-WA-5] Cathy McMorris Rodgers R WA 5 2007-04-20 False M000472 Rep. McHugh, John M. [R-NY-23] JOHN MCHUGH R NY M. 23 2007-05-01 False M001147 Rep. McCotter, Thaddeus G. [R-MI-11] Thaddeus McCotter R MI G. 11 2007-05-22 False T000459 Rep. Terry, Lee [R-NE-2] LEE TERRY R NE 2 2007-05-22 False B000208 Rep. Bartlett, Roscoe G. [R-MD-6] ROSCOE BARTLETT R MD G. 6 2007-05-24 False M001138 Rep. Manzullo, Donald A. [R-IL-16] DONALD MANZULLO R IL 16 2007-06-07 False D000429 Rep. Doolittle, John T. [R-CA-4] JOHN DOOLITTLE R CA T. 4 2007-06-07 False K000364 Rep. Kuhl, John R. "Randy", Jr. [R-NY-29] John Kuhl R NY R. "Randy" 29 2007-06-14 False F000440 Rep. Fossella, Vito [R-NY-13] VITO FOSSELLA R NY 13 2007-07-26 False P000583 Rep. Paul, Ron [R-TX-14] RON PAUL R TX 14 2008-05-19 False Taxation Commerce Computer software Depreciation and amortization Economics and Public Finance Income tax Indexing (Economic policy) Science, Technology, Communications Small business Tax deductions Taxation

00 2007-03-29 Introduced in House 2007-04-13T18:19:06Z Small Business Expensing Expansion and Permanency Act of 2007 - Amends the Internal Revenue Code to: (1) increase the expensing allowance (i.e., a tax deduction in the current taxable year) for small business assets to $200,000 and make such allowance permanent; (2) increase the threshold for phaseout of such allowance to $800,000 (cost basis of property placed in service); (3) allow an inflation adjustment to the expensing and threshold amounts beginning after 2007; (4) make permanent the right of a taxpayer to revoke an election to expense; and (5) make permanent the inclusion of certain computer software as property eligible for expensing.

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Official Title as Introduced Introduced in House IH Display Title Short Titles as Introduced Introduced in House 2007-03-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr1797ih/xml/BILLS-110hr1797ih.xml 2007-03-30 Sponsor introductory remarks on measure. (CR E701-702) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.