S. 2905Senate111th Congress (2009-2011)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 December 17, 2009

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 S13389-13390)

December 17, 2009

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SenateIntro Referral

Introduced in Senate

December 17, 2009

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S13389)

December 17, 2009

SenateIntro Referral

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S13389-13390)

December 17, 2009

Floor Debate

6 members

What members said about S. 2905 on the floor

1 Republican5 Democrats
Russell D. Feingold
Sen. Russell D. FeingoldD-WI · Dec 17, 2009

Mr. President, the very first bill debated on the floor of the Senate after the 2006 elections was S. 1, the Honest Leadership and Open Government Act of 2007, HLOGA. About 9 months later, President…

Dianne Feinstein
Sen. Dianne FeinsteinD-CA · Dec 17, 2009

Mr. President, I rise to introduce the Renewable Energy Incentive Act of 2009, which is cosponsored by Senator Jeff Merkley. This act would extend, expand, and improve existing tax incentives and…

Susan M. Collins
Sen. Susan M. CollinsR-ME · Dec 17, 2009

Mr. President, along with Senators McCaskill and Bennett, I rise to introduce two bills that would lay a strong foundation to improve the Federal acquisition system. The first bill, the Acquisition…

Ron Wyden
Sen. Ron WydenD-OR · Dec 17, 2009

Mr. President, I rise today to introduce critical forest legislation for my home State of Oregon. For too many decades, Oregon has been at war with itself over the fate of one of our most…

Al  Franken
Sen. Al Franken D-MN · Dec 17, 2009

Mr. President, the Compassionate Care for Servicewomen Act, which I am introducing today with my friend and colleague, Senator Snowe, is a straightforward but vital piece of legislation. It would…

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Daniel K. Inouye
Sen. Daniel K. InouyeD-HI · Dec 17, 2009

Mr. President, today 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 for…

Daniel K. Inouye
Sen. Daniel K. InouyeD-HI · Dec 17, 2009

Mr. President, today 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 for…

Bill Text

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Introduced in SenateIssued December 17, 2009

II

111th CONGRESS

1st Session

S. 2905

IN THE SENATE OF THE UNITED STATES

December 17, 2009

Mr. Inouye 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.

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 80 percent.

(b)

Conforming amendment

Section 274(n) of the Internal Revenue Code of 1986 is amended by striking paragraph (3).

(c)

Clerical 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, 2009.