H*4895 Session 112 (1997-1998)
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
RECALLED
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.
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