[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 2905 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 2905

 To amend the Internal Revenue Code of 1986 to repeal the reduction in 
       the deductible portion of expenses for business meals and 
                             entertainment.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           December 17, 2009

  Mr. Inouye introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 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.--Section 274(n)(1) 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.--Section 274(n) of the Internal Revenue 
Code of 1986 is amended by striking paragraph (3).
    (c) Clerical Amendment.--The heading for section 274(n) of the 
Internal Revenue Code of 1986 is amended by striking ``Only 50 
Percent'' and inserting ``Portion''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2009.
                                 <all>