January 24, 2007
Senator Jon Kyl
730 Hart Senate Office Building
Washington, DC 20510
Dear Senator Kyl:
On behalf of the National Federation of Independent Business (NFIB), the nation’s leading small-business advocacy group, I want to thank you for introducing an amendment to the minimum-wage bill that extends the restaurant and retail depreciation provisions through the end of 2008.
NFIB supports extending the current 15-year depreciation schedule for restaurant building improvements and expanding it to apply to new construction. NFIB also supports expanding the 15-year depreciation schedule for qualified retail improvements. The current legislation that was approved by the Finance Committee only extends the tax provisions relating to leasehold and restaurant improvements, new restaurant construction, and retail improvements through the first quarter of 2008. Your amendment would extend these provisions through the end of 2008.
The restaurant and retail industries – which offer the most entry-level jobs – suffered a negative impact from the last minimum wage increase This amendment would provide much-needed relief to these industries and would help them stay competitive. Furthermore, these tax-relief measures encourage investment, create jobs, and keep our economy strong.
Again, thank you for introducing your amendment, and we look forward to working with you on this legislation.
Sincerely,
Dan Danner
Executive Vice President
Public Policy and Political
