Summary: H.R.5974 — 112th Congress (2011-2012)All Information (Except Text)

There is one summary for H.R.5974. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (06/20/2012)

Invest in America Now Act of 2012 - Amends the Internal Revenue Code to: (1) extend through 2012 the 100% bonus depreciation allowance for business assets; (2) increase the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation; and (3) deny major integrated oil companies a tax deduction for income attributable to the domestic production, transportation, or distribution of oil, natural gas, and primary products thereof.