Number: RL33890
Title: Business Tax Issues in 2008
Authors: Donald J. Marples, Government and Finance Division 
Abstract: In early 2008, Congress focused on stimulating the economy and renewing general farm legislation. In February, Congress enacted the Economic Stimulus Act of 2008. The act's two business investment provisions provided for a temporary increase of small business expensing and temporary "bonus" depreciation limits. In May, the Food, Conservation, and Energy Act of 2008 (P.L. 110-234) was enacted and modified several alternative fuel production tax credits. Currently, other congressional deliberations regarding business taxation involve energy taxation and the extenders (H.R. 6049, S. 3098, S. 2886, etc.).
Pages: 14
Date: June 17, 2008