Story ID: 
Senate Pushes for Bonus Depreciation Extension
By: Kerry Lynch
Caption: Sen. Roberts is seeking permanent extension of bonus depreciation, while Sen. Stabenow would extend for two years.
Word Count: 222
Bonus depreciation is gaining more attention on Capitol Hill as Sens. Pat Roberts (R-Kan.) and Debbie Stabenow (D-Mich.) each introduced bills calling for extensions, while 18 business-aviation and other industry organizations are appealing to House leaders for consideration of similar legislation.

Roberts last week introduced S.1660, which would make permanent a 50-percent bonus depreciation measure for capital equipment and property. He said his bill would provide “much needed certainty in the tax code” and enable businesses to better plan investments. “Bonus depreciation has been extended and expired many times, and it is time we make this permanent to give businesses more predictability,” he said. Cosponsoring the bill are Sens. Johnny Isakson (R-Ga.), Roy Blunt (R-Mo.) and Pat Toomey (R-Pa.). Stabenow, meanwhile, introduced legislation to extend bonus depreciation for two more years. Stabenow’s bill, S.1666, also has three cosponsors.

In the House, Rep. Pat Tiberi (R-Ohio) in May introduced a bill, H.R.2510, also calling for permanent extension of bonus depreciation. That bill now has 36 cosponsors, including the backing of a number of House Ways and Means Committee members. NATA and GAMA were among 18 industry groups that wrote the committee urging swift action, saying it would create “a pro-investment tax climate that will spur much-needed economic growth and jobs, and provide a bridge to broader tax reform.”