H.R. 354

119th CONGRESS 1st Session

To amend the Internal Revenue Code of 1986 to increase the limitations on expensing of depreciable business assets.

IN THE HOUSE OF REPRESENTATIVES · January 13, 2025 · Sponsor: Mr. Moore of Utah · Committee: Committee on Ways and Means

Table of contents

• H.R. 354
  • SEC. 1. Short title
  • SEC. 2. Increase in limitations on expensing of depreciable business assets

SEC. 1. Short title

• This Act may be cited as the Small Business Growth Act.

SEC. 2. Increase in limitations on expensing of depreciable business assets

• (a) In general
  • of the Internal Revenue Code of 1986 is amended— Section 179(b)
    • by striking in paragraph (1) and inserting ,000,000, and
    • by striking in paragraph (2) and inserting $3,500,000.
• (b) Inflation adjustment
  • Section 179(b)(6) of such Code is amended—
    • by striking and inserting , and
    • by striking and inserting .
• (c) Effective date
  • The amendments made by this section shall apply to property placed in service in taxable years beginning after December 31, 2025.