NAM: Manufacturers: Senate Action on Bonus Depreciation and Expensing a Step in the Right Direction
23 Nov, 2010
Critical Incentives Will Spur Business Investment and Job Creation
The National Association of Manufacturers (NAM) Vice President of Tax & Domestic Economic Policy Dorothy Coleman issued the following statement supporting extended bonus depreciation and enhanced expensing in the Small Business Jobs and Credit Act of 2010 (H.R. 5297), which passed the Senate today by a vote of 61-38:
"Manufacturers commend the Senate for temporarily extending bonus depreciation and enhanced expensing. These critical tax incentives will stimulate business investments in machinery and equipment and enable manufacturers of all sizes to contribute to economic recovery and job growth. The NAM has long-advocated these powerful and proven tools for driving business investment and job creation. These incentives are needed more than ever in today's fragile and uncertain economy. We urge the House to follow suit and act without delay on these job-creating tax incentives.
“At the same time, we urge Congress to act quickly on the language in the amendment offered by Sen. Johanns that would repeal the onerous 1099 reporting requirements in the health care law."
The National Association of Manufacturers is the nation’s largest industrial trade association, representing manufacturers in every industrial sector and in all 50 states. Manufacturing has a presence in every single congressional district providing good, high-paying jobs. For more information about the Manufacturers, visit www.nam.org.