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Another provision gives companies a 50percentt bonus deduction on capital investments made in 2009 that normally would be deducted over many years.
She also called on legislators to repeal a state tax deduction on capital gains, and to pass a bill that would bring in more tax revenue through gambling.
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Existing arrangements mean tax deductions on capital gains are only offered on assets that have been sold after being held for 12 months or more.
Economists believe this category will show strength as companies respond to tax changes intended to spur spending in this area by allowing businesses full deductions on capital equipment purchased this year.
One thing that seems to be going on here is that the TF's model really pumps up the impact of the House plan's lower corporate tax rate and full expensing (immediate, full deduction) of capital investment on investment levels and the economy.
The Blueprint provides for an immediate deduction for capital expenditures (other than land) in lieu of depreciation deductions and interest deductions.
The amount of the Section 179 deduction, which allows expenditures on capital items like factory equipment to be written off immediately rather than depreciated gradually, has been raised to $500,000 from $125,000.
Nic Arnold, senior manager at PricewaterhouseCoopers, said: "The Chancellor has shown he is keen to maintain international business confidence in the UK by reducing the corporation tax rate and accelerating the tax deductions available to business on capital investment.
There are a wide range of corporate deductions, involving special depreciation allowances and upfront deductions for capital expenditures, which are also ripe for cutting back.
The law forbids deductions for capital losses in a wash sale.
Tax expenditures are the revenue the federal government forgoes by exempting some income from taxation, and includes not just deductions but also preferential rates on capital gains and income and untaxed employee health care benefits.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com