Temporary Expensing May Limit Potential Economic Growth
By Vidya Kauri (September 27, 2017, 9:20 PM EDT) -- The White House and GOP plan to couple a temporary write-off for certain investment costs with limitations on the interest expense deduction could limit potential economic growth and run into strong opposition from business lobbyists with a decided preference for debt-financed investment, experts say.
The Trump administration and congressional Republicans came to an agreement Wednesday on a broad outline for how to revamp the federal tax code, and proposed full expensing for depreciable assets except buildings and other property-based structures for at least five years, while limiting the tax deduction available for interest paid on loans.
Although the five-year expensing plan...
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