Small Business Growth Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Sponsors
- 9
- Latest action
- Jan 13, 2025
What it does
The Small Business Growth Act would amend the Internal Revenue Code to increase the expensing limits for depreciable business assets under Section 179, raising the annual deduction limit from $1,000,000 to $2,000,000 and the phase-out threshold from $2,500,000 to $3,500,000. It would also update inflation adjustment provisions by changing the base year from 2018 to 2026 and the reference year from 2017 to 2025 for calculating these limits. The changes would apply to property placed in service after December 31, 2025, affecting small businesses that invest in equipment and other depreciable assets.
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
While a bill can still move, the questions are about people and money.