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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…

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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
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
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 Plain-English summary Congressional Research Service

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 November 20, 2008

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Republican 5
R
Blackburn, Marsha
Tennessee · Dec 10, 2008
 R
Issa, Darrell
California · Dec 10, 2008
 R
Latta, Robert E.
Ohio · Dec 10, 2008
 R
Wittman, Robert J.
Virginia · Dec 10, 2008
 R
Foxx, Virginia
North Carolina · Nov 20, 2008
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7298: 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.. 110th Congress. Open America. https://openamerica.io/bill/110-HR-7298/
MLA
"H.R. 7298: 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.." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-7298/.
Bluebook (legal)
H.R. 7298, 110th Cong. (2026), https://openamerica.io/bill/110-HR-7298/.
Markdown link
[H.R. 7298: 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.](https://openamerica.io/bill/110-HR-7298/)
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