{"database": "press", "table": "releases", "rows": [["http://hultgren.house.gov/newsroom/press-releases/house-passes-permanent-tax-relief-for-individuals-and-businesses", "House Passes Permanent Tax Relief for Individuals and Businesses", "2015-12-17", "2015", "2015-12", "Republican", "House", "IL", "Randy Hultgren", "H001059", "hultgren.house.gov", null, null, "legacy", "Washington, DC  U.S. Representative Randy Hultgren (IL-14) today supported House passage of the Protecting Americans from Tax Hikes (PATH) Act, a combination of permanent and temporary extensions of tax relief for American individuals and businesses. In addition, the legislation includes important reforms to rein in the IRs and prevent fraud and abuse in the tax system.\nEvery December, Americans worry whether they will face staggering tax hikes that will harm their families and their businesses. The PATH Act creates certainty, helps grow the economy, reins in the IRS, and signals a path forward toward real tax reform, said Rep. Hultgren. The bill ensures our small business can continue to expense equipment purchases, and provides teachers tax relief when purchasing classroom items. As we celebrate the Christmas season, it encourages charitable giving. It prevents harmful taxes on medical devices, and ensures Chicagoland residents using public transit can receive the same benefits as those who drive.\nOverall, this bill includes many policies I have supported that will be beneficial to Illinois and the nation. I look forward to Speaker Ryan employing his expertise in tax policy to pursue comprehensive and lasting tax reform in the future.\nThe PATH Act includes important permanent and short-term extensions, including:\nPERMANENT extensions of the following policies:\n R&D credit:With a permanent research credit, business would have greater certainty when committing to investments in research and development.\n\tCode section 179 expensing:Immediate expensing helps cyclical businesses, especially farms, to invest in new property and equipment in profitable years, which averages out against the leaner years when cash flow is not as available to make such investments.\n\tState and local sales tax deduction\n\tCharitable Tax Policies, including The Fighting Hunger Incentive Act, The Permanent IRA Charitable Contribution Act, and The Conservation Easement Incentive Act of 2015.\n\tActive financing exemption\n\t15-year recovery for leasehold and restaurant improvements\n\tCharitable contributions of S corporations\n\t5-year recognition period for S corporation built-in-gains\n\tDeduction for teacher classroom expenses\n\tTemporary American Opportunity Tax Credit (a credit for qualified education expenses paid for an eligible student for the first four years of higher education) is made permanent\n\tTemporary changes to the Earned Income Tax Credit (reducing marriage penalties and assisting families with three or more children) are made permanent\n\tTemporary expansions of the Child Tax Credit (expanding refundability for low-wage workers) are made permanent\n\t100 percent exclusion for small business stock\n\tMass transit parity\n\tEmployer wage credit for active duty military (includes expansion for all employers)\n\tLow-Income Housing Tax Credit (9% credit made permanent and military housing allowance)\n FIVE-YEAR extensions of the following policies:\n Bonus depreciation (50% for 2015-17, 40% in 2018, 30% in 2019)\n\tInternational tax relief: Controlled foreign corporation look-through rule\n\tThe New Markets Tax Credit\n\tThe Work Opportunity Tax Credit\n TWO-YEAR extensions of the following policies:\n Exclusion of discharged mortgage debt relief from gross income (modified)\n\tMortgage insurance premiums treated as qualified residence interest\n\tAbove the line deduction for qualified tuition and related expenses\n\tIndian Employment Tax Credit\n\tRailroad Track Maintenance Credit (modified)\n\tMine Rescue Team Training Credit\n\tQualified Zone Academy Bonds\n\tRace horses: 3-year recovery period\n\tMotorsports complexes; 7-year recovery period\n\tAccelerated depreciation for business property on Indian reservations (modified)\n\tElection to expense mine safety equipment\n\tFilm and television expensing (modified)\n\tSection 199 deduction for activities in Puerto Rico\n\tEmpowerment Zone tax incentives (modified)\n\tTemporary increase in rum cover over\n\tAmerican Samoa economic development credit\n\tNonbusiness energy property credit\n\tAlternative fuel vehicle refueling property credit\n\t2-wheeled plug-in electric motor credit\n\tSecond generation biofuel producer credit\n\tBiodiesel and renewable diesel incentives credit\n\tIndian Coal Production Tax Credit (modified)\n\tCredit for facilities producing energy from certain renewable resources\n\tCredit for energy-efficient new homes\n\tSpecial allowance for second generation biofuel plant property\n\tEnergy efficient commercial buildings deduction\n\tSpecial rule for sales or dispositions to implement FERC or State electric restructuring policy for qualified electric utilities\n\tCredits relating to alternative fuels\n\tCredit for new qualified fuel cell motor vehicles\n\tMedical device tax moratorium\n ###", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["http://hultgren.house.gov/newsroom/press-releases/house-passes-permanent-tax-relief-for-individuals-and-businesses"], "units": {}, "query_ms": 1.5792991034686565, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}