We Need Tax Extenders
The U.S. House of Representatives recently passed a bill that ISA and sign companies strongly support. In a bipartisan 272 to 144 vote June 12, the House passed H.R. 4457, the “America’s Small Business Tax Relief Act of 2014”. This bill would make permanent Section 179 expensing at the levels that had expired at the end of 2013, i.e., a $500,000 expensing allowance and a $2,000,000 investment cap. This bill joins another effort that ISA supports – H.R. 4718, which would make permanent 50 percent first-year expensing, also known as “bonus” depreciation,” that was in effect at the end of 2013.
ISA supports these bills because sign companies can use them not just for the equipment they purchase, but also because sign users can use them to defray the costs of their sign purchases. These tax provisions were the top priority of sign industry representatives as they met with 13 House and Senate offices during the June 10-11 NAM Manufacturing Summit in Washington, D.C.
The U.S. Senate has yet to act on these House bills, but ISA will continue to urge U.S. Senators to quickly vote their versions of the bills so that sign companies and other manufacturers can take advantage them. For more information, please contact ISA’s David Hickey.
