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Toomey Introduces Bill to Make Full Expensing Permanent

Feb. 13, 2020, 5:22 PM

Sen. Pat Toomey introduces bill to make permanent the full and immediate expensing provision in the 2017 tax law.

  • The provision, which is currently scheduled to start phasing out after the end of 2022, lets businesses write-off some capital expenditures immediately
  • Bill would also fix the so called “retail glitch”, an error in the 2017 law that prevents restaurants and some other businesses from immediately deducting the cost of renovations
  • “My bill to make full expensing permanent would give manufacturers and businesses of all sizes certainty around investment planning and it would keep our economy humming,” Toomey says in statement...

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