Regulations and Government
House Lawmakers To Consider Bonus Depreciation Extension
Bonus depreciation included in Ways & Means portion of budget reconciliation
U.S. Capitol

Full bonus depreciation is slated to return under a provision in the U.S. House Ways and Means Committee’s portion of the massive budget reconciliation package. The committee is set to consider the tax portion today. This follows House Transportation and Infrastructure Committee approval of its part of the package, including an additional $12.5 billion for air traffic control and an elimination of green energy incentives, on April 30.

Under the Ways and Means package, taxpayers would be permitted to immediately expense 100% of qualified property, including business aircraft, that is acquired on or after Jan. 20, 2025, and before Jan. 1, 2030. Current law has been phasing out bonus depreciation, with a 40% deduction allowance for property this year, going down to 20% next year.

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