II 112th CONGRESS 2d Session S. 2088 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.

1.

Short title

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

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.