The House Ways and Means Committee easily approved a bipartisan $1.3 billion package of small business tax breaks included in the long-stalled minimum wage bill yesterday.  The bill could go to the House floor for a vote as soon as tomorrow.  This quick action has boosted hopes that Congress will clear the minimum wage increase (H.R. 2) which was coupled with a larger $8.3 billion tax package in the Senate.

Democrats have agreed to give Republican members 48 hours to study the text.  This means a floor vote could slip to February 15th or 16th.  Helicopter Association International (HAI) has learned it is expected to be under a rule that prohibits floor amendments.  Information coming out of the Senate indicates that it is unknown whether or not Republicans will quickly agree to allow a combined minimum wage bill conference or require a general pre-conference deal on overall costs and other issues.

Small businesses strongly support a centerpiece of the House package, a one-year extension through 2010 of the Section 179 deductions for small business expenses.  The Senate bill includes a similar extension.  However, the House bill would raise the ceiling for small business expenses from $112,000 to $125,000 starting in 2007.  Both would be indexed for inflation.

HAI will continue to closely track this legislation and provide updates as developments occur in Washington.