He says the bill also protects the Section 199A small business deduction.
Bacus says the bill makes permanent improvements to Section 179 expensing, allowing producers to write off equipment purchases, and extends bonus depreciation to help with investment in infrastructure.
The tax bill is now scheduled to move to the House Budget Committee. There, it will be bundled with other legislation before proceeding to a full House vote. Republican leaders hope to bring it to the House floor by Memorial Day, with the goal of delivering it to President Trump’s desk by July 4th.
