House Set to Vote on Bonus Depreciation in Extenders Drive

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Legislation to cement certain business write-offs has been scheduled for House floor action the week of July 7.

The bill (H.R. 4718), which would permanently allow taxpayers to write off 50 percent of a depreciable investment the same year it is made, was put on the calendar for consideration beginning July 9. The House Ways and Means Committee advanced the measure May 29 (104 DTR GG-1, 5/30/14).
Provisions in the legislation would change prior bonus depreciation law, which was originally conceived as temporary economic stimulus to counteract the 2008 and 2009 downturn. It expired Dec. 31.