4457) was a bill that would amend section 179 of the Internal Revenue Code, which mostly affects small- to medium-sized businesses, to retroactively and permanently extend from January 1, 2014, increased the cap on the amount of investment that can be immediately deducted from taxable income.

The bill would eliminate the exclusion of air conditioning and heating units as property eligible for the expensing allowance.

4457 would amend section 179 of the Internal Revenue Code, which mostly affects small- to medium-sized businesses, to retroactively and permanently extend from January 1, 2014, increased limitations on the amount of investment that can be immediately deducted from taxable income.

The benefit of the immediate expensing phases out if total qualifying investment exceeds $2 million, indexed for inflation.

[1] The Statutory Pay-As-You-Go Act of 2010 establishes budget-reporting and enforcement procedures for legislation affecting direct spending and revenues.

[1] The America's Small Business Tax Relief Act of 2014 was introduced into the United States House of Representatives on April 10, 2014 by Rep. Patrick J. Tiberi (R, OH-12).

"[2] They argued that "the uncertainty created by having a temporary tax law that needs to be renewed periodically reduces its effectiveness in promoting business investments and economic growth.