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Section 179 Legislation UPDATE

The positive news from the June 12th, 2014 session was the America's Small Business Tax Relief Act of 2014 H.R. 4457 (the Bill introduced to permanently expand small business expensing to $500,000) passed the House on a 263-155 vote.  

The negative news was sighting the loss of $73.1 billion in lost taxes over the next decade; the President is expected to veto the bill if it reaches his desk in its current form.

But first, the next step is for the Senate to take up the measure.

Stay tuned for updates on this issue as they become available.  more

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