Summary: H.R.5109 — 110th Congress (2007-2008)All Information (Except Text)

There is one summary for H.R.5109. Bill summaries are authored by CRS.

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Introduced in House (01/23/2008)

Economic Growth Act of 2008 - Amends the Internal Revenue Code to: (1) repeal the dollar and other limitations on the expensing allowance of depreciable business assets; (2) reduce to 25% the maximum corporate income tax rate; (3) provide for an inflation adjustment to the basis of certain capital assets for purposes of determining gain or loss; and (4) reduce from 35 to 15% the alternative capital gains tax rate for corporations.