It was one of the so-called “tax extenders” that have been allowed to expire in each of the past two years, only to be retroactively reinstated.  At long last, the US House has moved the issue forward again and passed legislation that will make the accelerated and bonus depreciation deductions permanent.  The legislation, known as the “America’s Small Business Tax Relief Act”, still must passed the US Senate and be signed by the president.  Obama has supported Section 179 in the past, but also threatened to veto the bill unless there is a commensurate offset to the estimated $77 Billion 10-year loss of revenue.