IN THE SENATE OF THE UNITED STATES
February 9, 2012
Mr. Rockefeller introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to permanently double the amount of start-up expenses entrepreneurs can deduct from their taxes.
This Act may be cited as
Small Business Start-up Support
Act of 2012.
Permanent doubling of start-up expenses deduction
Clause (ii) of section 195(b)(1)(A) of the Internal Revenue Code of 1986 is amended—
$5,000 and inserting
$50,000 and inserting
Subsection (b) of section 195 of the Internal Revenue Code of 1986 is amended by striking paragraph (3).
The amendments made by this section shall apply to amounts paid or incurred in taxable years beginning after December 31, 2011.