[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 114 Introduced in Senate (IS)]







105th CONGRESS
  1st Session
                                 S. 114

   To repeal the reduction in the deductible portion of expenses for 
                   business meals and entertainment.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 21, 1997

  Mr. Inouye (for himself, Mr. Thomas, Mr. Cochran, and Mr. Stevens) 
introduced the following bill; which was read twice and referred to the 
                          Committee on Finance

_______________________________________________________________________

                                 A BILL


 
   To repeal the reduction in the deductible portion of expenses for 
                   business meals and entertainment.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. REPEAL OF REDUCTION IN BUSINESS MEALS AND ENTERTAINMENT TAX 
              DEDUCTION.

    (a) In General.--Paragraph (1) of section 274(n) of the Internal 
Revenue Code of 1986 (relating to only 50 percent of meal and 
entertainment expenses allowed as deduction) is amended by striking 
``50 percent'' and inserting ``80 percent''.
    (b) Conforming Amendment.--The heading for section 274(n) is 
amended by striking ``50'' and inserting ``80''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1996.
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