Give Me a (Tax) Break
Legislation to permanently extend certain tax provisions could spur needed economic growth and jobs while providing a bridge to broader tax reform. It also could allow small businesses to write off much of the costs of the signs they purchase in 2014.
ISA recently joined the National Association of Manufacturers in urging congressional leadership to make permanent these important tax provisions that expired at the end of 2013.
In particular, ISA and NAM support swift action on legislation to permanently extend bonus depreciation and expensing provisions, creating a pro-investment tax climate. These tax provisions will, among other things, allow businesses of all sizes to deduct much of the cost of capital investments made in 2014, which would spur much needed business investment and job creation.
The Senate Ways & Means Committee recently held hearings on extending these tax provisions, and ISA expects that bonus depreciation and expensing measures will soon come up for a vote before the full U.S. Senate. For more information, please contact David Hickey.
