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119-hr-354119th CongressWALLET

Small Business Growth Act

Sponsored By: Representative Moore, Blake D. [R-UT-1]

Introduced

Summary

Doubles the Section 179 expensing cap for small businesses. This bill would raise the annual Section 179 deduction limit from $1 million to $2 million, lift the phase-out threshold from $2.5 million to $3.5 million, shift the inflation-adjustment baseline years to 2026 and 2025 for the affected dollar amounts, and apply to property placed in service in taxable years beginning after December 31, 2025.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Higher expensing limit for small businesses

If enacted, small business owners would be able to immediately expense up to $2,000,000 of qualifying business property. The deduction would start to phase out at $3,500,000 of property instead of $2,500,000. The bill would reset the baseline years used to adjust those dollar limits for inflation (replacing 2018 with 2026 and calendar year 2017 with 2025), while keeping a specific subparagraph's original year as noted. These changes would apply only to property placed in service in taxable years beginning after December 31, 2025.

Sponsors & CoSponsors

Sponsor

Moore, Blake D. [R-UT-1]

UT • R

Cosponsors

  • Rep. Buchanan, Vern [R-FL-16]

    FL • R

    Sponsored 1/13/2025

  • Rep. Smith, Adrian [R-NE-3]

    NE • R

    Sponsored 1/13/2025

  • Rep. Smucker, Lloyd [R-PA-11]

    PA • R

    Sponsored 1/13/2025

  • Rep. Miller, Carol D. [R-WV-1]

    WV • R

    Sponsored 1/13/2025

  • Rep. Fitzpatrick, Brian K. [R-PA-1]

    PA • R

    Sponsored 1/13/2025

  • Rep. Tenney, Claudia [R-NY-24]

    NY • R

    Sponsored 1/13/2025

  • Rep. LaHood, Darin [R-IL-16]

    IL • R

    Sponsored 1/14/2025

  • Rep. Kelly, Mike [R-PA-16]

    PA • R

    Sponsored 1/14/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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