Bonus Depreciation Letter Sent to Congress Leaders
Categories: U.S. Legislatitive Issues, Legislative & Regulatory News |
Author: Mike Williams
Posted: 6/4/2012 |
NAEDA joined 80 other companies and associations on a letter to the House and Senate leadership asking for immediate action on two bipartisan companion bills: H.R. 4196, a bill introduced by Congressmen Tiberi, Larson, Paulsen, Neal, Marchant, and Pascrell and S. 2240, introduced by Senators Stabenow, Blunt, Brown (OH) and Roberts.
These bills, if passed and signed into law, would provide an immediate incentive for businesses to make new capital investments by extending 100 percent expensing (bonus deprecation), the Alternative Minimum Tax (ATM) Credit in lieu of bonus depreciation provisions and will include companies using PCM (percentage of completion method of accounting) through 2012.
Paul Kindinger, President and CEO of NAEDA, said after release of the letter that "We hope congress will act quickly on these bills to spur economic and job growth for our dealer member companies. To see all these companies and associations joining together should be incentive for congress to act."
A copy of the letter can be viewed here.