legislation: 108-hr-4840

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
108-hr-4840 108 hr 4840 Tax Simplification for America's Job Creators Act of 2004 Taxation 2004-07-15 2004-09-07 Read twice and referred to the Committee on Finance. House Rep. Crane, Philip M. [R-IL-8] IL R C000873 18 (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Tax Simplification for America's Job Creators Act of 2004 - Amends the Internal Revenue Code to extend for two additional years (through 2007): (1) the increased expensing (up to $100,000) of small business assets; (2) the increase (to $400,000) in the cost limitation for property eligible for expensing; and (3) the inflation adjustments for the increased expensing amount and the limitation amount. Allows an inflation adjustment, beginning in 2004, of the $5 million gross receipts test amount used to determine eligibility for the cash method of accounting. Repeals or amends certain expired or inoperative provisions of the Internal Revenue Code. Enacts a savings provision to prevent changes in tax liability resulting from repeals or amendments made by this Act for periods ending after the date of enactment of this Act. 2023-01-14T22:48:16Z  

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