H.R.1763 - Responsible Reinvestment Act of 2009111th Congress (2009-2010)
|Sponsor:||Rep. Latta, Robert E. [R-OH-5] (Introduced 03/26/2009)|
|Committees:||House - Ways and Means|
|Latest Action:||03/26/2009 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1763 — 111th Congress (2009-2010)All Bill Information (Except Text)
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.