This report briefly summarizes and discusses the economic impact of selected business-related tax provisions that had expired at the end of 2014 and were extended or made permanent by the Consolidated Appropriations Act of 2016 ( P.L. 114-113 ), signed into law on December 18, 2015. Provisions not made permanent would expire at the end of 2016 or the end of 2019. In the past, these provisions have been extended one, or in some cases two, years in each piece of legislation. In the 113 th Congress, these provisions were extended as part of the Tax Increase Prevention Act of 2014 ( P.L. 113-295 ), signed into law on December 19, 2014. This law made most tax provisions that had expired at the end of 2013 available to taxpayers for the 2014 tax year. The Senate Finance Committee had earlier reported legislation, the Tax Relief Extension Act of 2015 ( S. 1946 ), that would have retroactively extended expired tax provisions, for two years, through 2016. This report discusses provisions that include several employer-related benefits, international provisions that provide exceptions to the Subpart F rules, special cost recovery provisions, provisions related to regulated investment companies (RICs), and several other business-related provisions. A complete list of these provisions, along with a notation of their status as permanent, extended through 2019, or extended through 2016, can be found in Table 1 . Note that bonus depreciation, which allows a deduction of 50% of equipment investment, would be reduced to 40% in 2018 and 30% in 2019, before expiring. The Consolidated Appropriations Act's extenders provisions cost $628.8 billion over FY2016-2025. It includes as "extenders" provisions liberalizing the child credit, education credits, and the earned income tax credit that have not yet expired and had not been included in the previous version of the "extenders" bill ( S. 1946 ). If these provisions (accounting for $198.1 billion) plus a small provision temporarily suspending the medical device tax (also not in S. 1946 ) are excluded, the total remaining cost is $426.8 billion. Of that amount, $301.4 billion, or 71%, was due to business-related provisions discussed in this report that were made permanent; $36.1 billion (8.5%) was due to provisions extended through 2019, and $1.4 billion (0.3%) was due to provisions extended through 2016. Overall, of these standard extenders, 79% of the cost was associated with business-related tax provisions discussed in this report. Three provisions made permanent account for 63% of the $426.8 billion total extenders: (1) the research and experimentation credit, accounting for 27%; (2) the small business (Section 179) expensing provision, accounting for 18%; and (3) the deferral of tax on active financing income earned abroad, accounting for 18% of the total. Extending expired tax provisions through 2016, as proposed in S. 1946 , would have cost $96.9 billion over the 10-year budget window, excluding any macroeconomic effects. More than 60% of this cost ($59.5 billion) is from the extension of business-related provisions discussed in this report (see Table 1 ). With macroeconomic effects included, the cost of extending expired provisions, as proposed in S. 1946 , would have been $86.6 billion over the 10-year budget window. According to the Joint Committee on Taxation (JCT), extending expired provisions affecting businesses, particularly the provision allowing businesses to expense 50% of investments, was expected to increase economic growth in the near term. Thus, the cost estimate when macroeconomic effects are included was less than the cost estimate that does not incorporate macroeconomic effects. Since S. 1946 was projected to increase the federal debt, part of the gain in economic growth from extending expired business-related tax provisions is expected to be offset by higher interest rates, which tend to slow economic growth. Extending expiring provisions retroactively for one year, as was done in the Tax Increase Prevention Act of 2014, cost $41.6 billion over the 10-year budget window. More than half of this cost ($22.3 billion) is from the extension of business-related provisions discussed in this report. The tax extender provision with the largest cost was tax credit for research and experimentation expenditures. The one-year extension enacted late in the 113 th Congress cost $7.6 billion. Table 1 provides information on the revenue cost of the one-year extension enacted as the Tax Increase Prevention Act of 2014. In recent years, the House has considered legislation to make permanent certain business-related extender provisions. In the 114 th Congress, America's Small Business Tax Relief Act of 2015 ( H.R. 636 ), which passed the House on April 13, 2015, would have made Section 179 expensing and the treatment of built-in gains of Subchapter S corporations permanent. The American Research and Competitiveness Act of 2015 ( H.R. 880 ), which would have expanded and made permanent the R&E tax credit, was passed in the House on May 20, 2015. The House Committee on Ways and Means had also reported other legislation that would have made certain business-related extenders provisions permanent. Specifically, H.R. 961 would have permanently extended the Subpart F exemption for active financing income and H.R. 1430 would have made permanent the look-through treatment of payments between related controlled foreign corporations. The House Committee on Ways and Means had also approved, in the 114 th Congress, legislation that would have modified and made permanent bonus depreciation ( H.R. 2510 ) and provisions allowing for 15-year straight-line cost recovery for qualified leasehold, restaurant, and retail improvements ( H.R. 765 ). Legislation to make certain business-related extender provisions permanent was also considered in the 113 th Congress. On September 18, 2014, the House passed the Jobs for America Act ( H.R. 4 ), which would have made permanent five of the expired provisions discussed in this report (see Table 1 ). The cost of making permanent these five provisions is $499.3 billion over the 10-year budget window. The total cost estimate for H.R. 4 , which also includes a repeal of the medical device tax and the Save American Workers Act of 2014 ( H.R. 2575 ), was $572.2 billion over the 10-year budget window. During the 113 th Congress, the House Committee on Ways and Means also reported legislation that would have permanently extended two other expiring provisions. H.R. 4429 would have amended the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income and H.R. 4464 would have made permanent the look-through treatment of payments between related controlled foreign corporations. These measures did not pass the House. The President's FY2016 budget identified several expiring provisions that should be permanently extended (and in some cases substantially modified). Specifically, the provisions addressed in the President's FY2016 budget include (1) the increased expensing for certain businesses under Section 179; (2) the 100% exclusion for qualified small business stock; (3) the research and experimentation (R&E) tax credit; and (4) certain employment-related credits (the Work Opportunity Tax Credit [WOTC] and the Indian employment credit). The President's budget also proposed permanently extending the exception under Subpart F for active financing income and the look-through treatment of payments between related controlled foreign corporations (CFCs) as part of a broader reform to the U.S. international tax system. For certain cost recovery provisions, the 10-year revenue cost of a permanent extension is substantially greater than the cost of temporarily extending the provision. For example, the revenue cost of temporarily extending bonus depreciation for one year, through 2014, was $1.2 billion. Making bonus depreciation permanent would cost $244.7 billion. This estimate is likely reduced, relative to a stand-alone provision, due to interaction effects with other provisions, most notably Section 179. For example, it was estimated that a permanent extension, as proposed in H.R. 4718 in the 113 th Congress, would have cost $263 billion over 10 years. With a temporary extension, tax liability is deferred, with much of the cost recovered in the later years in the budget window. Even when extended (and phased down) through 2019, as in the Consolidated Appropriations Act of 2015, the cost of $11.3 billion is less than 5% of the permanent 10-year cost. A similar pattern is observed for the proposed increase in the Section 179 expensing allowances, with a temporary one-year extension having cost an estimated $1.4 billion. A permanent extension, however, would cost $77.1 billion over the 10-year budget window. This report does not include provisions that in the past have been classified as charitable, community development, individual, or housing-related provisions. These provisions are included in the following CRS reports: CRS Report R43517, Recently Expired Charitable Tax Provisions ("Tax Extenders"): In Brief , by [author name scrubbed] and [author name scrubbed]; CRS Report R43541, Recently Expired Community Assistance-Related Tax Provisions ("Tax Extenders"): In Brief , by [author name scrubbed]; CRS Report R43688, Selected Recently Expired Individual Tax Provisions ("Tax Extenders"): In Brief , by [author name scrubbed]; and CRS Report R43449, Recently Expired Housing Related Tax Provisions ("Tax Extenders"): In Brief , by [author name scrubbed]. Tax incentives have been used at the federal level to encourage employers to hire employees from certain groups or to encourage employers to provide certain forms of compensation or benefits.