SB2609: Small Business Growth Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to amend the Internal Revenue Code of 1986 to increase the dollar limitation for the election to expense certain depreciable business assets.
Plain-language summary
This bill would change tax rules for small businesses by raising the dollar limit they can deduct when buying equipment and property. Currently, businesses can only deduct a certain amount of these purchases as expenses in a single year. The bill increases that cap, allowing more business owners to write off larger purchases immediately. All sponsors are Republican senators. The bill was recently introduced and has not yet moved through .
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SB2609: Small Business Growth Act
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Sponsors
John Barrasso
Primary SponsorCo-sponsors (6)
James Lankford
Marsha Blackburn
Thom Tillis
Mike Braun
James Risch