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September 14, 2005 - In response to Katrina, Sen. Gordon Smith (R-OR) has introduced a temporary 30% expensing allowance for new equipment ordered between 8/28/05 and 12/3/08 (S. 1632), and placed in service by 12/31/09. Sen. Smith led the successful effort to pass a post-9/11 “bonus depreciation” provision in 2002.
The expensing of equipment purchases is a top AMT priority.
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