On September 7, 2010 the Obama administration proposed a new tax program addressing capital investments. Under the proposal, US businesses would be allowed to deduct from their Federal taxes the full value of new equipment purchased through 2011. This proposal would build on the stimulus measures enacted in 2008 and 2009 allowing businesses to depreciate 50% of their capital investments. The Senate rejected this proposal, however, it did initiate two programs that may have an impact on business tax liability. First, rather than allowing 100% depreciation on new equipment purchased by businesses, the Senate reinstated the 50% depreciation bonus for 2010. Second, the Senate authorized an increase IRS Code Section (“Section”) 179 expensing levels to from $250,000 to $500,000 and the phase-out threshold amount from $800,000 to $2,000,000 for 2010 and 2011.
On September 28, 2010, Professor Steven Heyman, Attorney Mazen Asbahi and Professor Sheldon Nahmod participated in a panel discussion at Chicago-Kent College of Law on the “Ground Zero Mosque”–the proposed Islamic cultural center–in Manhattan.
It was sponsored by Kent’s Society of Law Students for Secularism (which organized the event) and co-sponsored by the Muslim Law Students Association, the National Lawyers Guild and the Institute for Law and Humanities.
Professor Nahmod spoke about the Religion Clauses and federal statutory law, Professor Heyman addressed the nature of the political discourse and Mr. Asbahi discussed the topic from an American Muslim perspective.