H.R. 5126 (110th): Family Security and Small Business Stimulus Act of 2008

Introduced:
Jan 23, 2008 (110th Congress, 2007–2009)
Sponsor:
Rep. Joseph “Joe” Knollenberg [R-MI9]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on January 23, 2008, in a previous session of Congress, but was not enacted.

Progress
Introduced Jan 23, 2008
Cosponsors
1 cosponsors (1R) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 to reduce individual income taxes by creating a new 5 percent rate of tax and to increase section 179 expensing for small businesses.

Summary

No summaries available.

Text

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Last updated Jan 23, 2008.
7 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

1/23/2008--Introduced.
Family Security and Small Business Stimulus Act of 2008 - Amends the Internal Revenue Code to: (1) allow a reduced 5% income tax rate on taxable income for low-income taxpayers; (2) allow an advance refund in 2008 for the reduction in the tax rate; and (3) increase to $375,000 between 2008 and 2010 the expensing allowance for small business depreciable assets.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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