Senate Stimulus Bill out of Committee, Better for Business - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Business/E-Business
Commentary
1/31/2008
03:03 PM
Jake Widman
Jake Widman
Commentary
50%
50%

Senate Stimulus Bill out of Committee, Better for Business

CNN Money, New York Times

The Senate Finance Committee approved an economic stimulus package with more provisions for small business tax relief than the version passed by the House last week. The full Senate vote is likely to come next Wednesday.The Senate version would enable businesses with operating losses in 2006 or 2007 to write them off against gains going back five years, up from the current two-year limit. "Any business with a loss in this tax year would certainly benefit from that," says Bill Rys, tax counsel for the National Federation of Independent Business. The Senate package would also allow an extra 25 percent of certain assets' value to be depreciated in each of the first two years after purchase, including some tangible property, computer software, and improvements to leased property. The Senate committee estimates that the package would provide more than $31 billion in tax savings for business owners in 2008, plus an additional $30 billion spread out over coming years.

Senate Democrats expressed doubt that they had enough votes to approve the package in the full Senate, however. There will be a series of five votes on the issue, beginning with a proposal to substitute the Senate package for the House one--which is expected to fail--through a vote to adopt the House plan, albeit with amendments. CNN Money, New York Times

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Commentary
What Becomes of CFOs During Digital Transformation?
Joao-Pierre S. Ruth, Senior Writer,  2/4/2020
News
Fighting the Coronavirus with Analytics and GIS
Jessica Davis, Senior Editor, Enterprise Apps,  2/3/2020
Slideshows
IT Careers: 10 Job Skills in High Demand This Year
Cynthia Harvey, Freelance Journalist, InformationWeek,  2/3/2020
Register for InformationWeek Newsletters
Video
Current Issue
IT 2020: A Look Ahead
Are you ready for the critical changes that will occur in 2020? We've compiled editor insights from the best of our network (Dark Reading, Data Center Knowledge, InformationWeek, ITPro Today and Network Computing) to deliver to you a look at the trends, technologies, and threats that are emerging in the coming year. Download it today!
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll