Keep Small Businesses Profitable Act of 2006

Keep Small Businesses Profitable Act of 2006 - Provides that the optional standard mileage rate used to calculate the tax deduction for business use of an automobile shall not be less than 48.5 cents per mile in 2006.

[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5583 Introduced in House (IH)]








109th CONGRESS
  2d Session
                                H. R. 5583

To provide a temporary minimum standard mileage rate for computing the 
     deductible costs of operating a vehicle for business purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 12, 2006

 Ms. Bean (for herself and Mr. Weldon of Pennsylvania) introduced the 
 following bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To provide a temporary minimum standard mileage rate for computing the 
     deductible costs of operating a vehicle for business purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Keep Small Businesses Profitable Act 
of 2006''.

SEC. 2. TEMPORARY MINIMUM STANDARD MILEAGE RATE FOR BUSINESS USE OF 
              VEHICLES.

    For purposes of section 162 of the Internal Revenue Code of 1986, 
the optional standard mileage rate in effect under such section for 
calendar year 2006 shall not be less than 48.5 cents per mile.
                                 <all>