The Assn. of Equipment Distribution (AED) is reporting that on May 29, the House Ways & Means Committee approved legislation (H.R. 4718) to make 50% bonus depreciation permanent for capital investments such as equipment purchases. H.R. 4718 now awaits House floor consideration. (http://www.aednet.org/aednews/index_full_story.cfm?id=10930941)
The near-term future of legislation to extend the expired tax provisions is uncertain. Given the continuing political acrimony and legislative logjam on Capitol Hill, the most likely scenario is that the Congress will pass an extenders tax package after the 2014 elections.