Senate Rejects Tax Bill
Posted On
August 07, 2024
The Senate has decided not to consider the Tax Relief for American Families and Workers Act. The legislation would have retroactively restored the 100% bonus depreciation tax credit, and extended the research and development tax credit that expired in 2022 and provided more favorable interest deductibility provisions. Tax will be a big issue in 2025 as more of the provisions of the Tax Cuts and Jobs Act expire.
Read more: Tax Bill Fails To Pass Senate Hurdle →