Build It in America Act Proposed

A bill reported in the House Ways and Means Committee—Build It in America Act (H.R. 3938) would, among other things, allow businesses to deduct expenses for research and experimentation and depreciate certain equipment more quickly. It would also increase the interest expense deduction. This limitation does not apply to “small businesses” or real estate or farming businesses electing exemption. The CBO estimates the impact of the measure would cut spending by $39.5 billion and raise revenue by $130.1 billion, reducing the deficit over the next decade by $169.6 billion. #IdeaoftheDay