HARDI Supports Small Business Tax Relief Act of 2015
COLUMBUS, Ohio — Heating, Air-conditioning, & Refrigeration Distributors International (HARDI) supports H.R. 636, America’s Small Business Tax Relief Act of 2015, which reported favorably from the House Ways and Means Committee recently. The bill proposes a revision to the tax code that would make permanent the expensing limits of certain depreciable assets and, for the first time, include heating and cooling equipment in that list.
The bipartisan legislation, authored by Republican representative Pat Tiberi of Ohio and co-sponsored by Democratic representative Ron Kind of Wisconsin, would revise Section 179 of the tax code to the levels effective during the 2010-2013 tax years (adjusted for inflation), allowing businesses to expense up to $500,000 of investments in new equipment and property. The deduction will phase out after investments exceed $2 million.