Hatch Job-Creating Amendments to S. 2569, The Bring Jobs Home Act

• Four-Part Tax Amendment – Amendment 3612
  • Section 179 Business Expensing
    • Permanently increases the amount of equipment, certain real property, and software that a business can expense in a year to $500,000, and indexes that amount for inflation.  This expensing is phased out between $2 million to $2.5 million in purchases, and the phase-out is also indexed for inflation.
• Bonus Depreciation
  • Permanently allows businesses to deduct 50 percent of the cost of qualified property in the first year that property is placed in service.  This provision is the same as the one that the House recently passed.
• R&D Tax Credit
  • Permanently increases the alternative simplified credit to 20 percent and eliminates the traditional research and development credit test.
• Capital gains exclusions for certain small business stock.
  • Permanently provides for a full exclusion of capital gains income derived from the sale of stock, which is held on a long-term basis, of certain Internal Revenue Code Subchapter “C Corporations” that are small.  

• Medical Device Repeal - Amendment 3656
  • Repeals Obamacare’s punitive, job-killing tax on medical devices.

• Employer Mandate Repeal - Amendment 3657
  • Repeals Obamacare’s requirement that “large” employers provide health insurance for employees or face a penalty.

• Trade-Promotion Authority - Amendment 3664
  • Renews TPA to allow the successful conclusion of trade agreements, including TPP and TTIP.
  • Text is the same as the Camp-Baucus-Hatch TPA bill introduced in January.  

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