Much may not have been said about Enhanced Section 179 expensing on the campaign trail, and there’s no mention of it in President Obama’s 2013 budget or Romney’s economic plan, but it’s among the reasons that businesses are so worried about the looming fiscal contraction at the end of the year, The Washington Post reported yesterday. Most discussions of the fiscal cliff have focused on the automatic sequester of spending cuts and the tax hikes that are set to take effect after Dec. 31, but there are many other tax breaks that are scheduled to end at the same time. Anticipating this complication, the Senate has put together a stopgap $205 billion tax-extender bill, but despite bipartisan support it stalled in the Senate last month.
