On May 29, the House Ways & Means Committee approved legislation (H.R. 4718) to make permanent 50 percent bonus depreciation for capital investments, such as equipment purchases.
ARSA joined a cross-section of industry groups endorsing the legislation introduced by Rep. Pat Tiberi (R-Ohio).
“ARSA commends Congressman Tiberi and his colleagues for moving forward on legislation to make 50 percent bonus depreciation permanent,” said ARSA’s Vice President of Legislative Affairs Daniel B. Fisher. “H.R. 4718 will add certainty to the tax code while encouraging business investment, leading to job creation and economic growth.”
H.R. 4718 now awaits House floor consideration. Last month, the Senate Finance Committee approved the Expiring Provisions Improvement Reform & Efficiency Act (EXPIRE Act), which includes a two-year extension of 50 percent bonus depreciation for qualified property purchased and placed in service before January 1, 2016.
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February 01, 2023 | Categories:
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