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Stimulus.org is a historical project of the Committee for a Responsible Federal Budget, which tracked the money spent by the 2009 stimulus bill. This site is not regularly updated.

Temporary Corporate Tax Cuts

Date: 
February 13, 2008
Policy Area: 
Economic Target: 
Action Type: 
Maximum Amount: 
$51.00 billion
Amount Spent: 
$51.00 billion
Deficit Impact: 
$7.50 billion

This law (H.R. 5140) included two provisions aimed at providing temporary tax breaks for businesses. The first provision allowed businesses to deduct 50 percent of their investments in certain depreciable property (e.g. equipment and computer software) from 2008 taxable income. The second provision increased the expensing allowance for depreciable business assets up to $250,000 and increased the maximum phase-out threshold for the allowance to $800,000.

Source: 

Economic Stimulus Act of 2008

Notes: 

Maximum Amount indicate CBO estimates for Fiscal Year 2008 and Fiscal Year 2009. Amount spent is CBO estimated cost for fiscal year 2008. Deficit Impact indicates CBO projection over ten years.

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