NFIB & 174 Organizations Support Small Business Expensing

Date: February 12, 2015

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www.nfib.com
For Immediate Release
Jack Mozloom, 202-406-4450 or 609-462-5610
Eric Reller, 202-314-2073
Follow Jack on Twitter @JackMozNFIB
Follow NFIB on Twitter @NFIB

 

NFIB & 174 Organizations Support Small Business Expensing

 

WASHINGTON, D.C., February 12, 2015 — The National Federation of Independent Business (NFIB) and 174 business associations delivered a unified message by sending a multi-industry letter to Representatives Tiberi and Kind supporting H.R. 636, America’s Small Business Tax Relief Act of 2015, which would provide permanent expensing levels that meet small business owners’ needs, reduce uncertainty for planning and streamline recordkeeping.

“NFIB, along with 174 co-signers that represent millions of businesses from every state and from every industry sector, urge Congress to restore full small business expensing for 2015 and beyond,” said NFIB Manager of Legislative Affairs Matt Turkstra. “This bipartisan legislation benefits both small businesses and the communities in which they reside and will provide greater certainty for tax preparation and planning. Making small business expensing permanent benefits everyone and we hope the House passes it without delay.”  

Small business expensing (Section 179) allows small businesses to immediately deduct the full value of investments in equipment in the year that the investment is made, instead of depreciating the investments over time. NFIB strongly supports making this tax provision permanent because it simplifies accounting and frees up cash to be reinvested in the business.

In addition, the NFIB Research Foundation estimates that a permanent expansion of small business expensing could add nearly 200,000 jobs and boost U.S. real output by as much as $18.6 billion over a ten-year window.


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NFIB is the nation’s leading small business advocacy association, with offices in Washington, D.C. and all 50 state capitals. Founded in 1943 to give small-business owners a voice in public policy-making, NFIB’s policy positions are set by its 350,000 business-owner members, who send their views directly to state and federal lawmakers through NFIB’s unique member-only ballot. NFIB’s mission is to promote and protect the right of our members to own, operate and grow their businesses. More information is available online at www.NFIB.com/news.

 

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