Using Business Tax Cuts to Stimulate the Economy

In the 111th Congress, the American Recovery and Reinvestment Act of 2009 (P.L. 111-5) contained a tax cut for business: temporary 50% bonus depreciation (which allows half of the cost of business equipment investment to be deducted when incurred). That provision extended bonus depreciation, enacted for 2008 in the 2008 stimulus, through 2009. Subsequent legislation retroactively extended the provision through 2010 (P.L. 111-240). At the end of December, 2010, a comprehensive tax bill, P.L. 111-312, extended bonus depreciation through 2011 and increased the share expensed, as of September 8, to 100%. it provided for 50% bonus depreciation for 2012. Discussed but not enacted were proposals to extend the period of time a loss can be carried back (offsetting prior year taxes and resulting in immediate tax savings) from two to five years. A carryback provision was provided for small business (along with some other small business provisions. P.L. 111-312 also extended the Bush tax cuts, including lower rates on capital gains and dividends, which originated as part of a business-related economic stimulus. Most of these provisions were made permanent by P.L. 112-240, the American Taxpayer Relief Act of 2012; bonus depreciation was extended through 2013.


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Older Versions:

Using Business Tax Cuts to Stimulate the Economy  [Order No: RL31134  Release Date: Jan 11,2011  Pages: 14]

Using Business Tax Cuts to Stimulate the Economy  [Order No: RL31134  Release Date: Jan 29,2009  Pages: 14]

Using Business Tax Cuts to Stimulate the Economy  [Order No: RL31134  Release Date: Feb 19,2008  Pages: 14]

Using Business Tax Cuts to Stimulate the Economy  [Order No: RL31134  Release Date: Jan 22,2008  Pages: 14]

Using Business Tax Cuts to Stimulate the Economy  [Order No: RL31134  Release Date: Aug 28,2007  Pages: 13]

Using Business Tax Cuts to Stimulate the Economy  [Order No: RL31134  Release Date: Jan 23,2007  Pages: 14]

Using Business Tax Cuts to Stimulate the Economy  [Order No: RL31134  Release Date: Jan 13,2006  Pages: 14]

Using Business Tax Cuts to Stimulate the Economy  [Order No: RL31134  Release Date: Jan 31,2005  Pages: 12]

Using Business Tax Cuts to Stimulate the Economy  [Order No: RL31134  Release Date: Jan 30,2003  Pages: 12]