![]() ![]() A two-year extension of this provision is estimated to cost $2.85 billion over 10 years.Įxtending the Section 179 Election would enable companies to choose to recover all or part of the cost of certain qualifying property by deducting the expense in the year the company places the property in service. Under a proposal in the Wyden bill, which is known as the EXPIRE Act of 2014, the cost is estimated at $3.2 billion over 10 years.Ī major sticking point to an enactment of a package of extenders appears to be whether it would make the provisions permanent, the panelists seemed to suggest. ![]() Under the Wyden measure, the date is Janu(before Janufor certain longer-lived and transportation assets). ![]() Ron Wyden of Oregon that is currently awaiting attention by the full Senate would extend existing R&E credits through 2015 and is estimated to cost the federal government approximately $16 billion over 10 years.Įnacted as part of President Obama’s economic-stimulus legislation early in his first term, the 50% bonus depreciation provision applies to qualified property bought and placed in service before a certain date. The R&E credit, which has been extended 15 times since 1981, enables companies to claim tax credits for research costs under certain conditions. Three of the most mentioned expirations of business tax provisions are the “Research and Experimentation” tax credit, bonus depreciation and the so-called Section 179 Election enabling small businesses to deduct certain property expenses from their taxes. And Jim Lyons, a Republican tax counsel on the Senate Finance Committee, and Aruna Kalyanam, a House Democratic tax counsel, both said they were “optimistic.” Look for more information about this campaign in a special issue of ACPA TODAY, which will be published tomorrow (Thursday).įollow this link to see ACPA’s government affairs repository.For example, Cathy Koch, the chief adviser to Senate Majority Leader Harry Reid, a Democrat, said that it was a “very likely” that a legislative package of extenders would be enacted in this session. Laura Perrotta, AHUA President and CEO, highlighted a new highway funding advocacy campaign called # fightforhighways and underscored how important it is that Congress acts on relief funding for DOTs to help ensure projects don’t get delayed or cancelled moving forward. Looking ahead at the Senate’s Health, Economic Assistance, Liability Protection and Schools (HEALS) Act, Senator McConnell’s proposal included a $13 billion THUD portion, with about $10 billion designated mostly for airports to maintain operations, and no funds designated for State DOTs. As we reported, ATIA was passed by the Senate last year. The officials presented updates on highway and airport relief funding, as well as long-term investment measures, including the America’s Transportation Infrastructure Act (ATIA), which Rebecca Higgins suggested Senate Democrats are in favor of passing and going to conference with the House passed bill. ACPA participated in a roundtable discussion by web yesterday.įeatured presenters included Clare Doherty, Staff Director of the House Subcommittee on Transportation, Housing and Urban Development Appropriations Michael Falencki, Minority Staff Director for the House Subcommittee on Highways and Transit (T&I Committee) Rebecca Higgins, Senior Policy Advisor for the Senate EPW Committee Richard Russell, Senate EPW Staff Director and Aruna Kalyanam, Majority Tax Counsel for the House Ways & Means Committee. ![]()
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