AED’s Washington office is wearing out the shoe leather walking the halls of Congress to encourage lawmakers to reinstate bonus depreciation and higher section Sec. 179 expensing levels for at least 2015 and 2016. The association is also urging the House and Senate tax committees to adopt a minor modification to bonus depreciation to increase its impact this year.
The two capital investment incentives have historically been included in a broader bill that extends more than 50 tax provisions that expire on an annual basis. The Senate Finance Committee has approved a comprehensive extenders bill for 2015 and 2016 that includes bonus depreciation and Sec. 179. The House however has chosen to deal with several of the items in the extenders bill individually and has passed separate bills to make both 50 percent bonus depreciation and increased Sec. 179 expensing levels permanent.
