S. 2552 would amend the Internal Revenue Code of 1986 to provide a stimulus to small business by increasing expensing for small businesses in 2008, extending the length of the carryback period for net operating losses during 2007 and 2008, and extending the research and development credit.

== Detailed Summary ==

<summary>
(Log inSmall Business Stimulus Act of 2008 - Amends the Internal Revenue Code to: (1) increase to edit$200,000 the wiki and beexpensing allowance for depreciable business assets in 2008; (2) extend through 2008 the first to provide a detailed summary offive-year carryback allowed for certain unused net operating losses; and (3) extend through 2008 the bill!)tax credit for increasing research activities.
</summary>

<!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. -->

== Status of the Legislation ==

<status>
Latest Major Action: 1/24/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.
</status>

<!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. -->

== Points in Favor ==

(Log in to edit the wiki and be the first to show why the bill should pass!)
<!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! -->

== Points Against ==

(Log in to edit the wiki and be the first to show why the bill should not pass!)
<!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! -->