WASHINGTON (April 7)—The House of Representatives has approved a $275 billion, six-year surface transportation reauthorization bill by a 357-65 vote.
The House bill contains a number of tax-related amendments not included in the $318 billion Senate bill. These include a two-year extension of the $100,000 limit (quadrupled from the old $25,000 limit) for small companies to expense capital improvements in a single tax year and relief for larger companies from the alternative minimum tax.
The House and Senate will go to conference to produce compromise legislation; however, the White House—though it doesn't object to the House tax provisions—has threatened to veto any transportation bill that exceeds its $256 billion budget request.