GOP Votes to Add $287 Billion to Deficit, Render Bonus Depreciation Ineffective

Against the unanimous opposition of Committee Democrats, Ways and Means Republicans today voted to add $287 billion to the deficit by making bonus depreciation permanent, thereby rendering the tax policy ineffective. The vote contradicted the position that Republicans took in the Tax Reform Discussion Draft that they unveiled in February, within which the GOP notes:

"Moving to permanent bonus depreciation is inconsistent with … Chairman Camp's proposal."

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