H.R. 5126 · 110th Congress
Family Security and Small Business Stimulus Act of 2008
- Stage
- In committee
- Sponsor
- Joe Knollenberg
- Introduced
- 2008-01-23
- Latest action
- 2008-01-28 · Referred to the Subcommittee on Income Security and Family Support.
Summary
Family Security and Small Business Stimulus Act of 2008 - Amends the Internal Revenue Code to: (1) allow a reduced 5% income tax rate on taxable income for low-income taxpayers; (2) allow an advance refund in 2008 for the reduction in the tax rate; and (3) increase to $375,000 between 2008 and 2010 the expensing allowance for small business depreciable assets.