To amend the Internal Revenue Code of 1986 to restore the 80-percent deduction for meal and entertainment expenses.

Amends the Internal Revenue Code to increase the tax deduction for meal and entertainment expenses to 80 percent (currently 50 percent) of such expenses.

[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3162 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 3162

 To amend the Internal Revenue Code of 1986 to restore the 80-percent 
             deduction for meal and entertainment expenses.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 30, 2005

  Mr. Foley (for himself, Mr. Farr, Mr. English of Pennsylvania, Mr. 
 Garrett of New Jersey, and Mr. Cannon) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to restore the 80-percent 
             deduction for meal and entertainment expenses.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. RESTORATION OF 80-PERCENT DEDUCTION FOR MEAL AND 
              ENTERTAINMENT EXPENSES.

    (a) In General.--Subsection (n) of section 274 of the Internal 
Revenue Code of 1986 (relating to only 50 percent of meal and 
entertainment expenses allowed as deduction) is amended--
            (1) by striking ``50 percent'' in paragraph (1) and 
        inserting ``80 percent'', and
            (2) by striking ``50 Percent'' in the subsection heading 
        and inserting ``80 Percent''.
    (b) Conforming Amendment.--Subsection (n) of section 274 of such 
Code is amended by striking paragraph (3).
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
                                 <all>