,,ii  #aacth ,,congress  #ast ,session  
,s4 #acdb  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #bc1     
#bjac ,mr4 ,flake 7for himself1 ,mr4    
,udall of ,new ,mexico1 and ,mr4        
,inhofe7 introduced the following bill2 
which was read twice and referred to the
 ,committee on ,finance  ,a ,,bill  ,to 
amend the ,internal ,revenue ,code of   
#aihf to permit expensing of certain    
depreciable business assets for small   
businesses4  #a4 ,short title ,this ,act
 may be cited as the ,small ,business   
,investment ,promotion ,act4  #b4       
,expensing certain depreciable business 
assets for small business  7a7 ,in      
general  7#a7 ,dollar limitation        
,paragraph 7#a7 of section #agi7;b7 of  
the ,internal ,revenue ,code of #aihf is
 amended by striking shall not exceed-- 
and all that follows and inserting shall
 not exceed #bej1jjj44  7#b7 ,reduction 
in limitation ,paragraph 7#b7 of section
 #agi7;b7 of such ,code is amended by   
striking exceeds-- and all that follows 

and inserting exceeds #hjj1jjj44  7b7   
,computer software ,clause 7ii7 of      
section #agi7;d77#a77;,a7 of such ,code 
is amended by striking and before #bjad4
  7c7 ,election ,paragraph 7#b7 of      
section #agi7;c7 of such ,code is       
amended by striking may not be revoked  
and all that follows through and before 
#bjad4  7d7 ,qualified real property    
,section #agi7;f7 of such ,code is      
amended--  7#a7 by striking beginning in
 #bjaj1 #bjaa1 #bjab1 or #bjac in       
paragraph 7#a71 and  7#b7 by striking   
paragraph 7#d74  7e7 ,inflation         
adjustment ,subsection 7b7 of section   
#agi of such ,code is amended by adding 
at the end the following new paragraph3 
7#f7 ,inflation adjustment  7,a7 ,in    
general ,in the case of any taxable year
 beginning after #bjad1 the dollar      
amounts in paragraphs 7#a7 and 7#b7     
shall each be increased by an amount    
equal to--  7i7 such dollar amount1     
multiplied by  7ii7 the cost-of-living  
adjustment determined under section     

#a7;f77#c7 for the calendar year in     
which the taxable year begins1 by       
substituting #bjac for #aiib in         
subparagraph 7,b7 thereof4  7,b7        
,rounding ,the amount of any increase   
under subparagraph 7,a7 shall be rounded
 to the nearest multiple of #aj1jjj4  4 
7f7 ,effective date ,the amendments made
 by this section shall apply to taxable 
years beginning after ,december #ca1    
#bjac4