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Legislative Victory: America's Small Business Tax Relief Act of 2014 Passes House

Posted: June 20, 2014

NFDA was one of 154 associations to sign a letter to Reps. Pat Tiberi (R-OH) and Ron Kind (D-WI) urging support of H.R. 4457, the America's Small Business Tax Relief Act of 2014. This vital legislation would restore the small business expensing—sometimes called Section 179 expensing -- level to $500,000, including limited improvements to real property and permanently index the level to inflation.

The letter which makes a strong case for why H.R. 4457 should be passed, states, in part:

The roller-coaster, ad-hoc changes in the level of small business expensing, which have often been enacted retroactively in recent years, has greatly contributed to uncertainty and prevented long-term planning. Making the higher small business expensing limits permanent and predictable would greatly reduce uncertainty and reduce the incidence of tax policy driving business decisions.

Passage of legislation permanently maintaining small business expensing at $500,000 will increase investment and jobs, reduce complexity and paperwork and alleviate uncertainty. These are critical issues for small businesses, which continue to experience a challenging business climate in the face of a stagnant economic recovery

You can read the full letter here.

H.R. 4457 passed the House on June 12. The bill now goes to the Senate Finance Committee for consideration. NFDA will keep you apprised of the status of H.R. 4457/