HR 5109
110th Congress
House
Taxation
Capital gains tax
Commerce
Corporation taxes
Depreciation and amortization
Economics and Public Finance
Income tax
Indexing (Economic policy)
Tax deductions
Tax rates
Economic Growth Act of 2008
Introduced: January 23, 2008
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 23, 2008
Referred to the House Committee on Ways and Means.
Jan 23, 2008
Introduced in House
Plain-English summary
Economic Growth Act of 2008 - Amends the Internal Revenue Code to: (1) repeal the dollar and other limitations on the expensing allowance of depreciable business assets; (2) reduce to 25% the maximum corporate income tax rate; (3) provide for an inflation adjustment to the basis of certain capital assets for purposes of determining gain or loss; and (4) reduce from 35 to 15% the alternative capital gains tax rate for corporations.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1