Today, the House passed H.R. 4718,  a bill to modify and make permanent bonus depreciation.  In remarks on the House floor today, Ways and Means Chairman Dave Camp said, “The legislation we have before us today would provide a permanent 50 percent bonus depreciation deduction and make the deduction available to more farmers and business owners across the country.  In Congress, we always find a way to make things more complicated, but today we can enact a simple, bipartisan provision that provides an immediate incentive for businesses to invest and hire new workers.  Bonus depreciation has received long-standing bipartisan support and has been renewed on a short-term basis for nine out of the last 12 years.”  Camp added, “This provision has gained strong bipartisan support in the past, as have many of the permanent tax policies the House has voted on this year.  By making long-standing features of the tax code permanent, we can facilitate a comprehensive overhaul of the tax code.  Such an overhaul, in turn, will create an America that works, with a strong, vibrant economy.  Today’s vote will bring the immediate economic relief so many businesses and hardworking taxpayers are asking for.”