HR 1763
111th Congress
House
Taxation
Business investment and capital
Employee benefits and pensions
Health care costs and insurance
Income tax deductions
Manufacturing
Small business
Transfer and inheritance taxes
Responsible Reinvestment Act of 2009
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 26, 2009
Referred to the House Committee on Ways and Means.
Mar 26, 2009
Introduced in House
Plain-English summary
Responsible Reinvestment Act of 2009 - Makes permanent the repeal of the estate tax.
Amends the Internal Revenue Code to: (1) increase to $500,000 the maximum expensing allowance for depreciable business assets; (2) allow first-year expensing of manufacturing and agricultural property; (3) allow a 20% tax deduction for qualified small business income; (4) allow a deduction from self-employment income for health insurance, health savings account contributions, and simplified employee pension plan contributions; and (5) increase the limit on the tax deduction for contributions to a simplified employee pension plan.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1