PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3011-3012)
Congressional Research Service
Version 00 · Introduced in Senate · May 17, 2017
Investment in New Ventures and Economic Success Today Act of 2017 or the INVEST Act of 2017
This bill amends the Internal Revenue Code to modify various tax deductions, accounting methods, expensing rules, and cost recovery rules that apply to businesses.
The bill replaces several existing provisions relating to deductions for start-up and organizational business expenses with a consolidated deduction. The new provision applies to all business types, increases the dollar limitations for expenses that may be deducted, and reduces the amortization period for costs that exceed the expensing limit.
Showing the opening paragraphs of the official summary.
With respect to accounting methods, the bill modifies the requirements for using the cash accounting method, inventory accounting rules for small businesses, and accounting rules that apply to certain construction contracts.
The bill modifies the expensing and cost recovery rules to:
increase the dollar limitation for the expensing of certain depreciable business assets,
modify the rules that apply to the expensing of costs related to real property,
make permanent the rule that allows businesses to elect to expense 50% of the cost of certain property and recover the remaining cost under the current depreciation rules,
modify the depreciation rules for farm machinery and equipment,
require the Department of the Treasury to update the schedule of class lives for depreciable property,
modify the depreciation rules for luxury automobiles,
modify the depreciation rules for computer or peripheral equipment used for personal purposes, and
reduce the amortization period for intangible property acquired by a business.
People & committees
Sen. Thune, John [R-SD] · R–SD
Legislative record
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Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3011-3012)
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 11, 2025. Consult Congress.gov for the current record.
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