H*4895 Concurrent Resolution, By Carnell, Askins, Bailey, Battle, Beck, Bowers, 
H. Brown, T. Brown, Dantzler, Davenport, Edge, Fleming, Haskins, Hawkins, 
Inabinett, Keegan, Kelley, Kirsh, Klauber, Lanford, Loftis, Mason, J.G. McAbee, 
McCraw, McKay, Quinn, Meacham, Sharpe, J. Smith, R. Smith, E.C. Stoddard, 
Townsend, Wilder, Witherspoon and Woodrum
 A CONCURRENT RESOLUTION TO MEMORIALIZE CONGRESS TO AMEND THE TAX LAWS OF THE
 UNITED STATES RELATING TO ONLY FIFTY PERCENT OF BUSINESS MEAL AND
 ENTERTAINMENT EXPENSES BEING ALLOWED AS A DEDUCTION, SO AS TO RESTORE AND
 PROVIDE FOR THE DEDUCTION OF ONE HUNDRED PERCENT OF BUSINESS MEAL AND
 ENTERTAINMENT EXPENSES.

   03/25/98  House  Introduced HJ-73
   03/25/98  House  Referred to Committee on Invitations and Memorial
                     Resolutions HJ-73
   04/02/98  House  Committee report: Favorable Invitations and
                     Memorial Resolutions HJ-33
   04/08/98  House  Adopted, sent to Senate HJ-36
   04/14/98  Senate Introduced SJ-9
   04/14/98  Senate Referred to Committee on Finance SJ-9
   04/29/98  Senate Recalled from Committee on Finance SJ-10
   04/30/98  Senate Adopted, returned to House with concurrence SJ-59

April 29, 1998

H. 4895

Introduced by Reps. Carnell, McKay, Inabinett, Bailey, Wilder, Klauber, Keegan, Kelley, Bowers, Beck, Dantzler, R. Smith, Askins, J. Smith, Mason, Hawkins, H. Brown, Lanford, Townsend, Meacham, McAbee, McCraw, Sharpe, Woodrum, Witherspoon, Haskins, Stoddard, Battle, Davenport, Kirsh, Loftis, Quinn, T. Brown, Fleming and Edge

S. Printed 4/29/98--S.

Read the first time April 14, 1998.

A CONCURRENT RESOLUTION

TO MEMORIALIZE CONGRESS TO AMEND THE TAX LAWS OF THE UNITED STATES RELATING TO ONLY FIFTY PERCENT OF BUSINESS MEAL AND ENTERTAINMENT EXPENSES BEING ALLOWED AS A DEDUCTION, SO AS TO RESTORE AND PROVIDE FOR THE DEDUCTION OF ONE HUNDRED PERCENT OF BUSINESS MEAL AND ENTERTAINMENT EXPENSES.

Whereas, the effect of Section 274 of the Internal Revenue Code of 1986, 26 United States Code, Section 274(n), is to reduce the amount of an otherwise allowable deduction for meal or entertainment expenses by fifty percent; and

Whereas, the business meal is a one hundred percent legitimate business expense and should be a one hundred percent legitimate business deduction; and

Whereas, two-thirds of business meal users make less than sixty thousand dollars per year, and seventy percent of business meal spenders typically use low-to-moderately priced restaurants for business lunches; and

Whereas, restoring one hundred percent of the business meal deduction was the second priority of the one thousand six hundred small business delegates at the last White House Conference on Small Business; and

Whereas, one-fifth of business meal users are self-employed; and

Whereas, small business owners rely more heavily on the one-on-one relationship offered by a business meal, more so than a large corporation with an advertising budget and marketing staff. Now, therefore,

Be it resolved by the House of Representatives, the Senate concurring:

That the Congress of the United States is hereby memorialized to amend the tax laws of the United States relating to only fifty percent of business meal and entertainment expenses being allowed as a deduction, so as to restore and provide for the deduction of one hundred percent of business meal and entertainment expenses.

Be it further resolved that a copy of this resolution be forwarded to the President of the United States, the United States Senate, the United States House of Representatives, and to each member of the South Carolina Congressional Delegation.