HR 7298
110th Congress
House
Taxation
Business investment and capital
Buy American requirements
Income tax deductions
Motor vehicles
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.
Introduced: November 20, 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
Nov 20, 2008
Referred to the House Committee on Ways and Means.
Nov 20, 2008
Introduced in House
Plain-English summary
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's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1