Primary Question: The percentage for bonus depreciation has varied over time to be between 30% and 100%. TCJA 2017 made the current percentage for bonus depreciation 100%. But this provision is set to expire in 2026. What arguments can be made for keeping this provision in the tax system in its current form? What arguments can be made to reduce this percentage or eliminate it completely? Consider what may make this provision effective or not and any potential changes that could be made to increase its effectiveness.

Secondary Question: From a tax planning perspective, we typically want to reduce taxes in the current year. Given this, the current bonus depreciation would seem to be helpful for tax planning because it accelerates cost recovery. Under what circumstances might taxpayers want to forego using bonus depreciation in the current year?