DC (December 17, 2015) – The National
Federation of Independent Business (NFIB) today called on members of both
parties in the House to support a major tax package that includes permanent
expensing for small business investments.
“The House today could bring us one-step closer to
permanent tax relief for American small businesses,” said NFIB President and CEO Dan Danner.
“We need strong bipartisan support today so the bills goes to the Senate
with a full head of steam.”
The measure, known as Section 179 of the IRS Tax
Code, allows small businesses to expense up to $500,000 per year for big
investments, such as machinery, equipment, technology and other capital
upgrades. Without congressional action
the provision would expire at the end of December, as it has every year for the
past several years. While Congress has
voted consistently to extend it, the annual waiting game plays havoc on small
business finances and gums up their biggest financial decisions.
“Permanent expensing will allow small businesses
to plan out their most important financial decisions,” said NFIB President and CEO Dan Danner. “The tax benefit encourages small businesses
to invest in their own growth and the permanency allows them to plan those
investments instead of having to wait on Congress every year.”
NFIB has fought for several years to make Section
179 of the IRS Tax Code permanent. This
year its members pulled out all the stops, sending more than 10,000 letters and
emails to members of Congress encouraging them to push the measure over the
“This will be a big victory for small business
owners and its effects will ripple through the economy in the form of more
investments, more business-to-business activity and more jobs,” said Danner.
For more information about NFIB please visit www.nfib.com.