S. 1482Senate108th Congress (2003-2005)In Committee

A bill to amend the Internal Revenue Code of 1986 to repeal the reduction in the deductible portion of expenses for business meals and entertainment.

Introduced July 29, 2003

Legislative Activity

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2 earlier actions
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S10145)

July 29, 2003

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SenateIntro Referral

Introduced in Senate

July 29, 2003

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S10145)

July 29, 2003

SenateIntro Referral

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S10145)

July 29, 2003

Floor Debate

11 members

What members said about S. 1482 on the floor

2 Republicans9 Democrats
Edward M. Kennedy
Sen. Edward M. KennedyD-MA · Jul 29, 2003

Mr. President, it is a privilege to join Senator Dodd and other colleagues in introducing the Head Start Coordination and School Readiness Act. Our goal is to reauthorize Head Start and continue this…

Russell D. Feingold
Sen. Russell D. FeingoldD-WI · Jul 29, 2003

Mr. President, today I am introducing legislation to strengthen the Buy American Act of 1933, the statute that governs procurement by the federal government. The name of the act accurately and…

Christopher J. Dodd
Sen. Christopher J. DoddD-CT · Jul 29, 2003

Mr. President, I am pleased to be joined today by my colleague, the ranking member of the Committee on Health, Education, Labor, and Pensions, Senator Kennedy, and Senators Harkin, Mikulski,…

Arlen Specter
Sen. Arlen SpecterR-PA · Jul 29, 2003

Mr. President, I have sought recognition to explain briefly the provisions of legislation I have introduced today that would direct the Secretary of the Army to award the Combat Medical Badge, CMB,…

Jack Reed
Sen. Jack ReedD-RI · Jul 29, 2003

Mr. President, I rise today as a cosponsor of the Head Start School Readiness and Coordination Act. Since 1965, Head Start has provided comprehensive early childhood development, educational, health,…

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Ron Wyden
Sen. Ron WydenD-OR · Jul 29, 2003

Mr. President, I believe the United States can fight terrorism ferociously without gutting civil liberties. The point of the legislation I am introducing today is to address concerns that have arisen…

Patrick J. Leahy
Sen. Patrick J. LeahyD-VT · Jul 29, 2003

Mr. President, I rise today to introduce the Congressional Responsibility for Immigration Act, a bill to deny fast-track procedures to trade agreements that include immigration provisions. We have…

Hillary Rodham Clinton
Sen. Hillary Rodham ClintonD-NY · Jul 29, 2003

Mr. President, I rise today to express my strong support for the Head Start Readiness and Coordination Act, of which I am a proud original co-sponsor. I want to commend Senator Dodd and Senator…

Lincoln Chafee
Sen. Lincoln ChafeeR-RI · Jul 29, 2003

Mr. President, today I introduce the POPs, LRTAP POPs, and PIC Implementation Act of 2003, along with Senator Jeffords. This legislation implements the Stockholm Convention on Persistent Organic…

Jeff Bingaman
Sen. Jeff BingamanD-NM · Jul 29, 2003

Mr. President, I rise to introduce the Native American Entrepreneurs Act of 2003. The purpose of this legislation is straightforward: it authorizes grants of $3 million in 2004, $4 million in 2005,…

Daniel K. Inouye
Sen. Daniel K. InouyeD-HI · Jul 29, 2003

Mr. President, I rise to introduce legislation to repeal the current 50 percent tax deduction for business meals and entertainment expenses, and to restore the tax deduction to 80 percent gradually…

Daniel K. Inouye
Sen. Daniel K. InouyeD-HI · Jul 29, 2003

Mr. President, I rise to introduce legislation to repeal the current 50 percent tax deduction for business meals and entertainment expenses, and to restore the tax deduction to 80 percent gradually…

Bill Text

Latest available legislative text

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Introduced in SenateIssued July 29, 2003
        [Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 1482 Introduced in Senate (IS)]

108th CONGRESS
1st Session
S. 1482

To amend the Internal Revenue Code of 1986 to repeal the reduction in
the deductible portion of expenses for business meals and
entertainment.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

July 29 (legislative day, July 21), 2003

Mr. Inouye (for himself, Mr. Stevens, and Mr. Cochran) introduced the
following bill; which was read twice and referred to the Committee on
Finance

_______________________________________________________________________

A BILL

To amend the Internal Revenue Code of 1986 to repeal the reduction in
the deductible portion of expenses for business meals and
entertainment.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. REPEAL OF REDUCTION IN BUSINESS MEALS AND ENTERTAINMENT TAX
DEDUCTION.

(a) In General.--Section 274(n)(1) of the Internal Revenue Code of
1986 (relating to only 50 percent of meal and entertainment expenses
allowed as deduction) is amended by striking ``50 percent'' and
inserting ``the applicable percentage''.
(b) Applicable Percentage.--Section 274(n) of the Internal Revenue
Code of 1986 is amended by striking paragraph (3) and inserting the
following:
``(3) Applicable percentage.--For purposes of paragraph
(1), the term `applicable percentage' means the percentage
determined under the following table:

``For taxable years beginning                            The applicable
in calendar year--                                    percentage is--
2001..........................................                  68
2002..........................................                  74
2003 or thereafter............................               80.''.
(c) Conforming Amendment.--The heading for section 274(n) of the
Internal Revenue Code of 1986 is amended by striking ``Only 50
percent'' and inserting ``Portion''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2002.
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