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S.2540 - Federal Government - A bill to amend the Internal Revenue Code to provide expensing for certain property placed in service during 2008 and 2009.

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Latest Update: Saturday, July, 19th 2008

A bill to amend the Internal Revenue Code to provide expensing for certain property placed in service during 2008 and 2009.

1/22/2008--Introduced.

Amends the Internal Revenue Code to allow a current year tax deduction of the cost of business equipment placed in service in 2008 and 2009 for which cost recovery periods of three, five, or seven years are currently allowed.

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Latest Actions

01/22/2008 - Sponsor introductory remarks on measure. (CR S97-99, S101-105)
01/22/2008 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S100-101)

Bill Text

File name		Last Updated
	S.2540 Introduced in Senate	01/27/2008

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Sponsor

Arlen Specter

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