Story ID: AN5060314alerts
House Committee Approves Bonus Depreciation Bill
By: Chad Trautvetter
Caption: Would allow for 50 percent of costs for new investments in equipment and software to be written off in the first year.
Word Count: 85
Last Thursday, the House Ways and Means Committee approved H.R.4718, a bill that would make accelerated, or bonus, depreciation permanent. If passed, this would allow for 50 percent of costs for new investments in equipment and software–a list that includes such things as business jets–to be written off in the first year. More than 150 groups, including NBAA and NATA, supported the legislation. The bill is expected to be on the House floor for a vote by the full chamber next month.