REDUCTION IN DEDUCTIBLE PORTION OF BUSINESS MEALS AND ENTERTAINMENT.

SEC. 13209. REDUCTION IN DEDUCTIBLE PORTION OF BUSINESS MEALS AND ENTERTAINMENT. (a) General Rule.— Paragraph (1) of section 274(n) (relating to only 80 percent of meal and entertainment expenses allowed as deduction) is amended by striking “80 percent” and inserting “50 percent”. (b) Conforming Amendment.— The subsection heading for section 274(n) is amended by striking “80” and inserting “50”. (c) Effective Date.— The amendments made by this section shall apply to taxable years beginning after December 31, 1993.