This bill would change Section 179 of the Internal Revenue Code to raise the dollar limits for immediately expensing depreciable business assets. It would increase the maximum expensing amount from $1,000,000 to $2,000,000 and raise the phase-out threshold from $2,500,000 to $3,500,000. It also updates which years are used for inflation adjustments in the code (replacing "2018" with "2026" and replacing "calendar year 2017" with "calendar year 2025"). The changes apply to property placed in service in taxable years beginning after December 31, 2025. The bill was introduced in the House on January 13, 2025, and referred to the Committee on Ways and Means.
If you buy business equipment or other depreciable assets, the dollar limits for immediate expensing under Section 179 would be higher starting for tax years beginning after December 31, 2025. The bill text does not include further details about how individual taxpayers or businesses would be affected beyond changing these dollar amounts and the effective date.
No publicly available information on estimated federal revenue effects or costs is included in the provided bill text or metadata.
No publicly available information on proponents' statements or detailed arguments is included in the provided bill text or metadata beyond the bill's stated changes and the list of sponsors.
No publicly available information on opponents' statements or detailed objections is included in the provided bill text or metadata.