06/23/2008
Increased rates will help small businesses cope with skyrocketing oil prices
CONTACT: Melissa Sharp 202-314-2068
WASHINGTON, D.C.--Dan Danner, executive vice president of the National Federation of Independent Business, the nation's leading small business association, issued the following statement in reaction to the IRS' announcement to increase the optional standard mileage rates for businesses to 58.5 cents per gallon through December:
"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.”
The IRS announcement can be viewed at http://www.irs.gov/newsroom/article/0,,id=184163,00.html.
