H.R. 7298 · 110th Congress
To amend the Internal Revenue Code of 1986 to make permanent the deduction for expensing certain depreciable…
Full title
To amend the Internal Revenue Code of 1986 to make permanent the deduction for expensing certain depreciable business assets and to allow a deduction for the original purchase of domestically manufactured automobiles.
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
LambornSponsor15 cosponsors · 15 R
R
Foxx
RP
R
Paul
RB
R
Bartlett
DB
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Burton
MB
R
Blackburn
PB
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Broun
PG
R
Gingrey
LG
R
Gohmert
DI
R
Issa
RL
R
Latta
JP
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Pitts
TP
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Poe
ZW
R
Wamp
LW
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Westmoreland
RW
R
Wittman2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to: (1) increase and make permanent the expensing allowance for depreciable business assets; and (2) allow a tax deduction, up to $10,000, for the purchase of a motor vehicle manufactured in the United States. Terminates such tax deduction after 2010.
What it does: CRS summary · Introduced in House · Nov 20, 2008
Amends the Internal Revenue Code to: (1) increase and make permanent the expensing allowance for depreciable business assets; and (2) allow a tax deduction, up to $10,000, for the purchase of a motor vehicle manufactured in the United States. Terminates such tax deduction after 2010.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to make permanent the deduction for expensing certain depreciable business assets and to allow a deduction for the original purchase of domestically manufactured automobiles.
Latest action (Nov 20, 2008): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Nov 20, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.