Wabeno Economic Development Act

House Bill

H.R. 3937

119th Congress

Wabeno Economic Development Act

In Committee

Introduced:Jun 11, 2025

Primary Sponsor

Dan Newhouse

Representative

Republican

WA-4

Cosponsors

0

Quick Stats

Policy Area

Taxation

Summary

The Wabeno Economic Development Act aims to support small businesses by providing various tax incentives. It increases the reporting threshold for independent contractors, restores reporting requirements for third-party transactions, modifies the exclusion of gains from small business stock sales, raises the ceiling for expensing business assets, and establishes rural opportunity zones.

Latest Action

Placed on the Union Calendar, Calendar No. 100.

SponsorDan Newhouse (R-WA)

Introduced6/11/2025

StatusReceived in the Senate and Read twice and referred to the Committee on Energy and Natural Resources.

ChamberHouse

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Vote Prediction

Wabeno Economic Development Act

The Wabeno Economic Development Act aims to support small businesses by providing various tax incentives. It increases the reporting threshold for independent contractors, restores reporting requirements for third-party transactions, modifies the exclusion of

Community Breakdown

Pass

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Fail

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The Wabeno Economic Development Act aims to support small businesses by providing various tax incentives. It increases the reporting threshold for independent contractors, restores reporting requirements for third-party transactions, modifies the exclusion of gains from small business stock sales, raises the ceiling for expensing business assets, and establishes rural opportunity zones.

Bill Number: 3937
Sponsor: Dan Newhouse (R-WA)
Introduced: 6/11/2025
Status: Received in the Senate and Read twice and referred to the Committee on Energy and Natural Resources.
Policy Area: Taxation

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Wabeno Economic Development Act
Bill Number: 3937
Sponsor: Dan Newhouse (R-WA)
Status: Received in the Senate and Read twice and referred to the Committee on Energy and Natural Resources.
Introduced: 6/11/2025
Summary: The Wabeno Economic Development Act aims to support small businesses by providing various tax incentives. It increases the reporting threshold for independent contractors, restores reporting requirements for third-party transactions, modifies the exclusion of gains from small business stock sales, r

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

The Wabeno Economic Development Act aims to support small businesses by providing various tax incentives. It increases the reporting threshold for independent contractors, restores reporting requirements for third-party transactions, modifies the exclusion of gains from small business stock sales, raises the ceiling for expensing business assets, and establishes rural opportunity zones.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Small Business Jobs Act This bill provides tax incentives for investment in small businesses. Among other provisions, the bill <ul> <li>increases from $600 to $5,000 (adjusted annually for inflation) the general reporting threshold for services performed by an independent contractor or subcontractor, </li> <li>restores reporting requirements for third party network transactions, </li> <li>modifies the exclusion of gain from the sale of qualified small business stock, </li> <li>increases the ceiling for expensing of depreciable business assets,</li> <li>establishes rural opportunity zones, and</li> <li>reinstates reporting requirements for qualified opportunity zones and applies such requirements to qualified rural opportunity zones.</li> </ul>

Key Points

Main provisions of the bill

Increases the reporting threshold for independent contractors from $600 to $5,000 (adjusted for inflation)
Restores reporting requirements for third-party network transactions
Modifies the exclusion of gains from the sale of qualified small business stock
Raises the ceiling for expensing of depreciable business assets
Establishes rural opportunity zones to spur investment in rural areas

How This Impacts Americans

Potential effects on citizens and communities

If passed, this bill would primarily benefit small businesses and entrepreneurs by providing them with more favorable tax treatment and opportunities for investment. It would reduce administrative burdens for small firms and potentially incentivize the creation and growth of small businesses, especially in rural areas through the opportunity zone program.

Policy Areas

Primary Policy Area

Taxation

Related Subjects

Administrative law and regulatory procedures

Business investment and capital

Capital gains tax

Inflation and prices

Internal Revenue Service (IRS)

Rural conditions and development

Securities

Small business

Tax administration and collection, taxpayers

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

3937, 119th Congress (2025). "Wabeno Economic Development Act". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-3937

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