[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 2088 Introduced in Senate (IS)]

112th CONGRESS
  2d Session
                                S. 2088

 To amend the Internal Revenue Code of 1986 to permanently double the 
 amount of start-up expenses entrepreneurs can deduct from their taxes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            February 9, 2012

Mr. Rockefeller 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 permanently double the 
 amount of start-up expenses entrepreneurs can deduct from their taxes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Start-up Support Act 
of 2012''.

SEC. 2. PERMANENT DOUBLING OF START-UP EXPENSES DEDUCTION.

    (a) In General.--Clause (ii) of section 195(b)(1)(A) of the 
Internal Revenue Code of 1986 is amended--
            (1) by striking ``$5,000'' and inserting ``$10,000'', and
            (2) by striking ``$50,000'' and inserting ``$60,000''.
    (b) Conforming Amendment.--Subsection (b) of section 195 of the 
Internal Revenue Code of 1986 is amended by striking paragraph (3).
    (c) Effective Date.--The amendments made by this section shall 
apply to amounts paid or incurred in taxable years beginning after 
December 31, 2011.
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