U.S. Senate Passes Major Tax and Spending Bill with Provisions Beneficial to Many Small Businesses
AutoInc.
JULY 1, 2025
However, the Senate’s version would make this “bonus” depreciation provision permanent, while the House’s version would make this provision expire at the end of 2029. The OBBB would result in a more gradual and manageable increase in EVs on the road by eliminating nearly all tax credits on consumer EV purchases.
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