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HR 4840 108th Congress House Taxation Accounting Commerce Corporation taxes Cost of living adjustments Depreciation and amortization Economics and Public Finance Finance and Financial Sector Income tax Indexing (Economic policy) Small business Tax deductions Tax simplification

Tax Simplification for America's Job Creators Act of 2004

Introduced: July 15, 2004 See on congress.gov
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 Everywhere this bill has been 12 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 7, 2004
Read twice and referred to the Committee on Finance.
Jul 22, 2004
Received in the Senate.
Jul 21, 2004
Motion to reconsider laid on the table Agreed to without objection.
Jul 21, 2004
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 424 - 0 (Roll no. 405). (text: CR H6475-6477)
Jul 21, 2004
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 424 - 0 (Roll no. 405).(text: CR H6475-6477)
Jul 21, 2004
Considered as unfinished business. (consideration: CR H6497)
Jul 21, 2004
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Jul 21, 2004
DEBATE - The House proceeded with forty minutes of debate on H.R. 4840.
Jul 21, 2004
Considered under suspension of the rules. (consideration: CR H6475-6483)
Jul 21, 2004
Mr. Portman moved to suspend the rules and pass the bill.
Jul 15, 2004
Referred to the House Committee on Ways and Means.
Jul 15, 2004
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Jul 21, 2004 House · vote #405 On Motion to Suspend the Rules and Pass Passed 424–0 See who voted →
 Plain-English summary Congressional Research Service

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Tax Simplification for America's Job Creators Act of 2004 - Amends the Internal Revenue Code to extend for two additional years (through 2007): (1) the increased expensing (up to $100,000) of small business assets; (2) the increase (to $400,000) in the cost limitation for property eligible for expensing; and (3) the inflation adjustments for the increased expensing amount and the limitation amount.

Allows an inflation adjustment, beginning in 2004, of the $5 million gross receipts test amount used to determine eligibility for the cash method of accounting.

Repeals or amends certain expired or inoperative provisions of the Internal Revenue Code. Enacts a savings provision to prevent changes in tax liability resulting from repeals or amendments made by this Act for periods ending after the date of enactment of this Act.

What's happening now September 7, 2004

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1