The League of Iowa Human & Civil Rights Agencies

The Senate has passed a $15 billion package that is aimed at helping small businesses. There are two key parts. One is the extension of section 179 of the tax code, which allows up to $250,000 of capital expenditures to be expensed immediately instead of being depreciated over time. This will motivate some companies to make capital expenditures that will reduce their tax bills, which is good for the economy. The other part is the suspension of FICA payments for the rest of the year for new hires.

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