Source: US HOUSE AG COMMITTEE, 12/18/15

This week, the House passed the Protecting Americans from Tax Hikes (PATH) Act to provide families and small businesses with more than $629 billion in tax savings by making permanent important deductions and providing stability on tax rates.  

This bill is an important step to rewriting our broken tax code and giving Americans the certainty they need in order to plan for the future and grow their businesses by:
• Making permanent section 179 deduction. This provision will allow Southeastern North Carolina small businesses, farmers and families to deduct the full purchase price of qualifying equipment or software purchased or financed during the tax year; 
• Providing employers with a tax credit of 20% on wages paid for the time the employee is on active duty; 
• Protecting taxpayers from IRS abuse by ensuring that IRS employees are following the law and firing employees who targeted taxpayers based off of their personal religious or political beliefs; and, 
• Imposing a two-year moratorium of the medical device tax mandated by Obamacare to ensure access to medical equipment, especially in rural areas.