To amend the Internal Revenue Code of 1986 to repeal certain limitations on the expensing of section 179 property, to allow taxpayers to elect shorter recovery periods for purposes of determining the deduction for depreciation, and for other purposes.

Expensing Property Expands our Nation's Strong Economy Act of 2011 or the EXPENSE Act of 2011 - Amends the Internal Revenue Code to: (1) repeal the limitations on the expensing of depreciable business assets; and (2) allow taxpayers to elect a two-year recovery period for depreciable property.