Tax Provisions of Stimulus Bill

Updated: The House voted today to approve the $787.2 billion stimulus bill, 246-183.  Not a single Republican voted in favor of the bill, and only 7 Democrats voted against it (down from 11 on the original House passage).  The Senate voted last night to approve the bill, 60-38, with three Republicans (Sens. Collins, Snow and Specter) voting with all of the Democrats.  The bill contains $301 billion in tax cuts (including $232.2 billion in tax relief for individuals):

• Statutory Language (Division A)
• Statutory Language (Division B)
• Conference Report (Division A)
• Conference Report (Division B) 
• Staff Summary
• Joint Committee on Taxation, Estimated Revenue Effects (JCX-19-09)
• CBO, Cost Estimate
• Associated Press:  Stimulus Bill Offers Workers, Businesses Tax Cuts
• ataxingmatter:  Economic Stimulus--Conference Agreement
• Bloomberg:  GM Wins, Loses in Stimulus, Homebuilders Get Less Aid
• CCH, Tax Briefing
• New York Times:  Stimulus Bill’s Tax Breaks and Benefits
• Reuters:  Tax Details of Stimulus Plan Released
• Roth & Co:
  • AMT Patch
  • Bank Bad Debt Built-In Loss
  • Bonus Depreciation
  • Estimated Tax
  • Homebuyer Credit
  • NOLs
  • OID Relief
  • S Corporation Built-In Gain
  • Section 179 Deduction
  • Stimulus Fatique
• Tax Vox:  Tax Stimulus: It Could Have Been Worse