COLUMBUS, Ohio — H.R. 636, America’s Small Business Tax Relief Act of 2015, passed the House with a vote of 272-142 Friday morning. Heating, Air-conditioning & Refrigeration Distributors International (HARDI) continues to support the bill, which would revise the tax code to make permanent the expensing limits of certain depreciable assets and, for the first time, include heating and cooling equipment in that list.
Republican representative Pat Tiberi of Ohio introduced the bill, co-sponsored by Democratic representative Ron Kind of Wisconsin, which would relieve pressures felt by small businesses by creating long-term certainty in Section 179 of the tax code. Furthermore, the bill allows businesses of all sizes to reduce the cost of capital and improve cash flow, allowing them to focus on expansion and job creation.