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To amend the Internal Revenue Code of 1986 to increase the limitations on expensing of depreciable business assets.
Summary
This bill increases the limits for business tax deductions on depreciable assets under Section 179 of the Internal Revenue Code. The annual expensing limit would increase from $1 million to $2 million, and a related threshold would increase from $2.5 million to $3.5 million. The changes also update inflation adjustments to use 2026 as the base year and apply to property placed in service in taxable years beginning after December 31, 2025.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
8 cosponsors
Actions (2)
- Jan 13, 2025 Referred to the House Committee on Ways and Means. · house
- Jan 13, 2025 Introduced in House
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Text versions (1)
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Full text
IN THE HOUSE OF REPRESENTATIVES
January 13, 2025
Mr. Moore of Utah (for himself, Mr. Buchanan, Mr. Smith of Nebraska, Mr. Smucker, Mrs. Miller of West Virginia, Mr. Fitzpatrick, and Ms. Tenney) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to increase the limitations on expensing of depreciable business assets.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Small Business Growth Act”.
SEC. 2. INCREASE IN LIMITATIONS ON EXPENSING OF DEPRECIABLE BUSINESS ASSETS.
(a) In General.—Section 179(b) of the Internal Revenue Code of 1986 is amended—
(1) by striking “$1,000,000” in paragraph (1) and inserting “$2,000,000”, and
(2) by striking “$2,500,000” in paragraph (2) and inserting “$3,500,000”.
(b) Inflation Adjustment.—Section 179(b)(6) of such Code is amended—
(1) by striking “2018” and inserting “2026 (2018 in the case of the dollar amount in paragraph (5)(A))”, and
(2) by striking “calendar year 2017” and inserting “‘calendar year 2025’ (‘calendar year 2017’ in the case of the dollar amount in paragraph (5)(A))”.
(c) Effective Date.—The amendments made by this section shall apply to property placed in service in taxable years beginning after December 31, 2025. <all>
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