12.17.15

‘Permanent Tax Relief For American Families And Small Businesses’

Job Creators: ‘The Importance Of This… Cannot Be Overstated,’ ‘Easily The Most Positive Thing Congress Has Done For Small Business In The Past Several Years’

 

SEN. MITCH McCONNELL (R-KY): “It would enact permanent tax relief for American families and small businesses. That will lead to more jobs, more opportunity, and more economic growth here in America.” (Sen. McConnell, Floor Remarks, 12/17/15)

 

Permanent Tax Relief Hailed As ‘Historic And Very Promising Breakthrough’

NATIONAL ASSOCIATION OF MANUFACTURERS’ Dorothy Coleman: “This announcement is a historic and very promising breakthrough. Congress has signaled that it’s serious about helping manufacturers grow in the United States. …this is one of the most significant steps Congress has taken in decades to improve our out-of-date tax code for businesses.” (National Association Of Manufacturers, Press Release, 12/16/2015)

BUSINESS ROUNDTABLE’s Mark A. Weinberger: ‘The importance of this agreement, which includes permanent tax extenders, cannot be overstated.’ “Congress and the Administration demonstrated bipartisan leadership in reaching agreement on a deal that will create the kind of long-term certainty that encourages investment, innovation, economic growth and jobs. The importance of this agreement, which includes permanent tax extenders, cannot be overstated. We strongly urge immediate action on this package.” (Business Roundtable, Press Release, 12/16/2015)

U.S. CHAMBER OF COMMERCE’s Bruce Josten: ‘This accomplishment cannot be overstated’ “The Chamber has been urging Congress to make permanent many of these perennially-renewed tax provisions for years, if not decades.  The Chamber applauds Congress for finally acting to provide long-term certainty for the business community.  This accomplishment cannot be overstated.” (Bruce Josten, E-mail To House Members, 12/16/2015)

 

Provides ‘Some Long Awaited Certainty’

ASSOCIATION OF EQUIPMENT MANUFACTURERS: “Together with the recently enacted multiyear highway bill and the omnibus funding bill, our manufacturing sector has some long awaited certainty and economic boast to create jobs and grow our economy.” (Association Of Equipment Manufacturers, E-mail To Sen. McConnell, 12/16/2015)

AMERICAN FARM BUREAU FEDERATION’S Bob Stallman: “Farmers and ranchers need tax deductions that they can count on to effectively operate their businesses. Providing certainty to the tax code makes the difficult business of running a farm more manageable. We urge you to pass the Protecting Americans from Tax Hikes Act.” (Bob Stallman, Letter To Sen. McConnell, 12/16/2015)

RETAIL INDUSTRY LEADERS ASSOCIATION’s Christine Pollack: “The multi-year extenders agreement provides retailers with immediate relief and certainty, and lays the groundwork for comprehensive tax reform.” (RILA, Press Release, 12/16/2015)

NATIONAL ASSOCIATION OF MANUFACTURERS’ Drew Greenblatt: “U.S. manufacturers have the opportunity to grow, innovate and compete when they have certainty on these important provisions. By making permanent the R&D credit and investment incentives for businesses of all sizes, Congress is helping to provide that clarity.” (National Association Of Manufacturers, Press Release, 12/16/2015)

NATIONAL FEDERATION OF INDEPENDENT BUSINESS: “Making small business expensing permanent is the single most critical action you can take to help small businesses in 2015.” (National Federation Of Independent Business, Letter To Senators, 12/16/2015)

  • “The current temporary nature of small business expensing fuels greater doubt regarding the economy and prevents small business owners from enacting long-term growth plans, making purchasing decisions, and expanding their businesses. By making Section 179 expensing levels permanent, predictable and at sufficient levels, Congress can take a vital step in boosting our economy and helping the true engine of our economy, small businesses, grow.” (National Federation Of Independent Business, Letter To Senators, 12/16/2015)
  • “The PATH Act includes permanent small business expensing levels at $500,000, adjusted for inflation, which provides much-needed predictability for small business owners. A 2015 NFIB Research Foundation study found that permanent small business expensing would increase economic output by almost $19 billion and create nearly 200,000 jobs over the next 10 years.” (National Federation Of Independent Business, Letter To Senators, 12/16/2015)

NFIB’s Dan Danner: “This is easily the most positive thing Congress has done for small business in the past several years and it will ripple through the economy in the form of new investments and more jobs.” (National Federation of Independent Business, Press Release, 12/16/2015)

‘Pro-Growth’ Tax Relief Policies ‘Essential To The U.S. Economy’

U.S. CHAMBER’S Josten: “The U.S. Chamber of Commerce strongly supports the ‘Protecting Americans from Tax Hikes (PATH) Act of 2015’ . ... As this work towards comprehensive [tax] reform continues, the PATH Act would provide pro-growth policies and the opportunity for businesses to create jobs and grow the economy.” (Bruce Josten, E-mail to House Members, 12/16/2015)

NAM’s Coleman: “[E]very manufacturer in the United States will benefit from at least one provision in the package.” (National Association Of Manufacturers, Press Release, 12/16/2015)

  • NAM Small and Medium Manufacturers Group Chair Tom Riordan: “Permanent and multiyear extensions of the expired investment incentives will help manufacturers of all sizes, producing a positive ripple effect throughout the economy. ... The agreement will encourage businesses to invest in the capital equipment and machinery that will increase efficiency, productivity and growth—thanks to the permanent extension of enhanced Section 179 expensing and the multiyear extension of 50 percent first-year expensing.” (National Association Of Manufacturers, Press Release, 12/16/2015)

INFORMATION TECHNOLOGY INDUSTRY COUNCIL’s Dean Garfield: “On behalf of the 64 member companies of the Information Technology Industry Council (ITI), I write to express our strong support for the Protecting Americans from Tax Hikes (PATH) Act. ... These tax policies are essential to our members’ competitiveness in the global marketplace and we therefore urge members of the House to vote yes on final passage of the PATH Act.” (Dean Garfield, Letter To Speaker Ryan And Leader Pelosi, 12/16/2015)

  • “A permanent R&D credit returns an assortment of economic benefits. First, it spurs new investment, which multiplies across the economy. Second, it encourages the kind of risk taking that is necessary to experiment and innovate. Finally, it encourages companies to choose the U.S. as their incubator for developing the innovations that are transforming our world and making our lives better. A permanent credit will provide American businesses with certainty, which will propel innovation and grow our economy.” (Dean Garfield, Letter to Speaker Ryan and Leader Pelosi, 12/16/2015)

UPS’s Laura Lane: “The extension of these tax provisions is essential to the U.S. economy, supporting global growth and spurring job creation. ... If enacted, we are confident this legislation will have a positive impact not only for our business, but for our small business customers as well.” (UPS, Press Release, 12/16/2015)

RAYTHEON’s Anthony F. O’Brien: “These provisions, to include a permanent extension of the Research and Development (R&D) credit, are critically important to American jobs and the broader economy and will provide much needed certainty for U.S. companies.” (Anthony F. O’Brien, Letter To Members Of Congress, 12/16/2015)

  • “By making the R&D credit permanent among other pro-manufacturing, long-term tax provisions included in this bill, Congress will ensure the U.S. remains a global leader in technology and innovation and takes a necessary first step towards comprehensive tax reform.” (Anthony F. O’Brien, Letter To Members Of Congress, 12/16/2015)

 

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SENATE REPUBLICAN COMMUNICATIONS CENTER

Related Issues: Small Business, Middle Class, Jobs, Taxes, Economy