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S 2609 118th Congress Senate Taxation

Small Business Growth Act

Introduced: July 27, 2023 Introduced by: Barrasso, John Republican · Wyoming See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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
Jul 27, 2023
Read twice and referred to the Committee on Finance.
Jul 27, 2023
Introduced in Senate
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 Plain-English summary Congressional Research Service

Small Business Growth Act

This bill increases from $1 million to $2.5 million the limitation on expensing of depreciable business assets. It also increases the asset threshold amount used to reduce the expensing limitation.

What's happening now July 27, 2023

Read twice and referred to the Committee on Finance.

 Related & companion bills 2
  • HR 3661 Related bill Small Business Growth Act
  • HR 7024 Related bill Tax Relief for American Families and Workers Act of 2024
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Republican 5
R
Blackburn, Marsha
Tennessee · Jul 27, 2023
 R
Cramer, Kevin
North Dakota · Jul 27, 2023
 R
Lankford, James
Oklahoma · Jul 27, 2023
 R
Risch, James E.
Idaho · Jul 27, 2023
 R
Tillis, Thomas
North Carolina · Jul 27, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2609: Small Business Growth Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-2609/
MLA
"S. 2609: Small Business Growth Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-2609/.
Bluebook (legal)
S. 2609, 118th Cong. (2026), https://openamerica.io/bill/118-S-2609/.
Markdown link
[S. 2609: Small Business Growth Act](https://openamerica.io/bill/118-S-2609/)
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