Two Senate Finance Committee members introduced separate bonus depreciation bills the last week of June. Reinstating this capital investment incentive is one of the North American Equipment Dealers Assn.'s top tax priorities for this congress.
Sen. Pat Roberts (R-KS) unveiled a proposal to permanently reinstate 50% bonus depreciation (S.B. 1660), which is a companion bill to Rep. Pat Tiberi's (R-OH) House bill, H.R. 2510. Sen. Debbie Stabenow (R-MI) has also introduced legislation (S.B. 1667) that would reinstate bonus depreciation for 2015 and 2016.
NAEDA is supporting both these bills and at the same time asking members of congress to also reinstate both bonus depreciation and increased Sec. 179 expensing levels immediately to incentivize equipment purchases throughout the year. Both provisions expired at the end of 2014.