S. 907Senate112th Congress (2011-2013)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 May 5, 2011

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 S2743-2744)

May 5, 2011

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SenateIntro Referral

Introduced in Senate

May 5, 2011

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S2743)

May 5, 2011

SenateIntro Referral

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2743-2744)

May 5, 2011

Floor Debate

11 members

What members said about S. 907 on the floor

1 Republican10 Democrats
Benjamin L. Cardin
Sen. Benjamin L. CardinD-MD · May 5, 2011

Mr. President, today I am reintroducing legislation that will help prevent millions of gallons of pollution from entering our Nation's precious water resources. The season we are in makes my…

Robert Menendez
Sen. Robert MenendezD-NJ · May 5, 2011

Mr. President, I rise today to introduce the Simon Wiesenthal Holocaust Education Assistance Act. This important legislation would provide competitive grants for educational organizations to make…

Mary L. Landrieu
Sen. Mary L. LandrieuD-LA · May 5, 2011

Mr. President, I rise today to introduce a bill that will be a critical component in our efforts to recover and rebuild Louisiana's vast coastal wetlands. My bill works to address the threatening…

Patrick J. Leahy
Sen. Patrick J. LeahyD-VT · May 5, 2011

Mr. President, today, I am proud to join with Senator Grassley to introduce the Fighting Fraud to Protect Taxpayers Act of 2011. Combating fraud is a vital issue on which Senator Grassley and I have…

Jeff Bingaman
Sen. Jeff BingamanD-NM · May 5, 2011

Mr. President, I rise to introduce a bill important to public health and safety and the environment. This legislation addresses an interpretation by the Department of the Interior, DOI, which…

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Ron Wyden
Sen. Ron WydenD-OR · May 5, 2011

Mr. President, today I am pleased to introduce a bill that will address the cumbersome and time consuming process under existing law within the Bureau of Indian Affairs. This piece of legislation…

Orrin G. Hatch
Sen. Orrin G. HatchR-UT · May 5, 2011

Mr. President, I rise today to announce the introduction of a bill that, if enacted, would empower the States to more wisely spend the $31 billion in unemployment funds that have been allocated to…

Patty Murray
Sen. Patty MurrayD-WA · May 5, 2011

Mr. President, today, as Chairman of the Senate Committee on Veterans' Affairs, I am proud to introduce the Veterans' Compensation Cost-of-Living Adjustment Act of 2011. Effective December 1, 2011,…

Tom Harkin
Sen. Tom HarkinD-IA · May 5, 2011

Mr. President, safe, modern, healthy school buildings are essential to creating an environment where students can reach their full academic potential. Today, too many students in the United States,…

John D. Rockefeller IV
Sen. John D. Rockefeller IVD-WV · May 5, 2011

Mr. President, I rise today to introduce the Mother's Day Centennial Coin Commemorative Coin Act. I am proud to be joined by a bipartisan group of cosponsors including Senators Manchin, Cochran,…

Daniel K. Inouye
Sen. Daniel K. InouyeD-HI · May 5, 2011

Mr. President, today I rise to introduce legislation to restore the 80 percent tax deduction for business meals and entertainment expenses. By way of background, business meals previously were fully…

Daniel K. Inouye
Sen. Daniel K. InouyeD-HI · May 5, 2011

Mr. President, today I rise to introduce legislation to restore the 80 percent tax deduction for business meals and entertainment expenses. By way of background, business meals previously were fully…

Bill Text

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Introduced in SenateIssued May 5, 2011

II

112th CONGRESS

1st Session

S. 907

IN THE SENATE OF THE UNITED STATES

May 5, 2011

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, 2011.