06/23/2008
Agency agrees to increase standard mileage rates for businesses
On June 23, the IRS announced that they were raising the standard mileage rates for businesses from the 50.5 cent rate to 58.5 cents. NFIB, working with members of both the U.S. House and Senate, strongly encouraged the IRS to take this immediate action to help small business owners struggling with record high gas prices.
In response to the IRS announcement, Dan Danner, executive vice president of NFIB, issued the following statement:
"NFIB is very pleased with the IRS' decision to increase the standard mileage rates for businesses from the 50.5 cent rate to 58.5 cents. This increase will help small business owners nationwide that depend on using vehicles to support their businesses. According to a recent NFIB study, the cost of energy ranks as the second most troubling problem for small business owners, and therefore this increase will undoubtedly help many business owners struggling to afford record high gas prices.
"NFIB applauds the IRS for acting in a timely manner to do something that will immediately help American small business owners. Additionally, NFIB commends Senator Norm Coleman (Minn.) and Congressman Brad Ellsworth (Ind.-08) for urging the IRS to increase the standard mileage rates for businesses. Small business owners, the nation’s job creators, will greatly appreciate this money saving initiative.”
