Sen. Debbie Stabenow (D-Mich.) has introduced a bipartisan bill that would extend the depreciation bonus through 2012 (S. 2240).
S. 2240 is a companion measure to legislation introduced in the House by Rep. Patrick Tiberi (R-Ohio) (H.R. 4196) in mid-March. Tiberi’s bill has seen a steady swell of bipartisan support and now enjoys 34 co-sponsors.
Both proposals would extend 100 percent depreciation bonus through 2012 and are similar to language passed by the House during the payroll tax cut extension debate at the end of 2011.
In addition to the extended opportunity for businesses to take advantage of the 100 percent depreciation bonus, the legislation offers other benefits including:
- Allowing companies that use the “percentage of completion” accounting method to take advantage of the depreciation bonus
While there is a growing base of bipartisan support on Capitol Hill for extending the depreciation bonus, it is critical that you add your voice to those supporting this important investment incentive. Visit AEDAction.org to urge your lawmakers to co-sponsor this legislation.