Bizav Groups Cheer House OK of Small Business Tax Bill | Aviation International News

Regulations and Government

Bizav Groups Cheer House OK of Small Business Tax Bill

The measure, which would permanent increase expensing allowance for small businesses to $500,000, faces uncertain future.

By Kerry Lynch • Editor, AIN monthly magazine

February 16, 2015

The House cleared a bill to permanently extend the small business expensing provision that expired at the end of 2014. The provision, H.R.636, America’s Small Business Tax Relief Act of 2015, would permit small businesses to expense up to $500,000 in investments rather than deducting them. The House approved the measure 272-142 in a largely partisan vote, although more than two dozen Democrats voted in favor of it. Its fate in the Senate, however, remains unclear as Congress contemplates larger tax reform.

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