Summary: H.R.1763 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.1763. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/26/2009)

Responsible Reinvestment Act of 2009 - Makes permanent the repeal of the estate tax.

Amends the Internal Revenue Code to: (1) increase to $500,000 the maximum expensing allowance for depreciable business assets; (2) allow first-year expensing of manufacturing and agricultural property; (3) allow a 20% tax deduction for qualified small business income; (4) allow a deduction from self-employment income for health insurance, health savings account contributions, and simplified employee pension plan contributions; and (5) increase the limit on the tax deduction for contributions to a simplified employee pension plan.