Under the $350 billion package of tax cuts and state assistance passed by Congress on May 23, 2003, a deduction for new equipment purchases by small businesses that was previously capped at $25,000 was raised to $100,000, according to a Wall Street Journal report. A recent Detroit News report said an increasing number of small business owners are using the deduction to write off luxury SUV purchases. Under the new tax legislation, small business owners can deduct up to $100,000 of the cost of any vehicle defined as a truck (6,000 pounds gross vehicle weight or more) by the IRS.