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Congress Should Support Small Business Tax Bill, 174 Groups Urge

FEB. 12, 2015

Congress Should Support Small Business Tax Bill, 174 Groups Urge

DATED FEB. 12, 2015
DOCUMENT ATTRIBUTES
  • Institutional Authors
    60 Plus Association
    Academy of General Dentistry
    Advanced Medical Technology Association's Emerging Growth Company Council
    Aeronautical Repair Station Association
    Agricultural Retailers Association
    Air Conditioning Contractors of America
    American Apparel & Footwear Association
    American Association of Small Property Owners
    American Composites Manufacturers Association
    American Council of Engineering Companies
    American Dental Association
    American Farm Bureau Federation
    American Foundry Society
    American Loggers Council
    American Moving & Storage Association
    American Rental Association
    American Road & Transportation Builders Association
    American Sheep Industry Association
    American Society of Travel Agents
    American Subcontractors Association Inc.
    American Sugarbeet Growers Association
    American Supply Association
    American Truck Dealers
    American Veterinary Medical Association
    Americans for Tax Reform
    AMT - The Association For Manufacturing Technology
    Arizona Small Business Association
    Associated Builders and Contractors
    Associated Builders and Contractors Greater Tennessee Chapter
    Associated Builders and Contractors Florida East Coast Chapter
    Associated Builders and Contractors Rocky Mountain Chapter
    Associated Equipment Distributors
    Associated General Contractors
    Associated Oregon Loggers Inc.
    Association of Equipment Manufacturers
    Association of Pool & Spa Professionals
    Association of the Wall and Ceiling Industry
    Auto Care Association
    Automotive Parts Remanufacturers Association (APRA)
    Aviation Suppliers Association
    California Farm Bureau Federation
    Carolinas Food Industry Council
    CCIM Institute
    Chamber of Commerce Southern New Jersey
    Clean Water Construction Coalition
    Colorado Wyoming Petroleum Marketers Association
    Construction Industry Round Table
    Cotton Warehouse Association of America
    Delaware Retail Council
    Delaware State Chamber of Commerce
    Equipment Leasing and Finance Association (ELFA)
    Equipment Marketing & Distribution Association (EMDA)
    Foodservice Equipment Distributors Association
    Great Lakes Timber Professionals Association
    Hearth, Patio & Barbecue Association
    Heating, Air-Conditioning and Refrigeration Distributors International (HARDI)
    Idaho Dairymen's Association
    Image Apparel Institute
    Independent Electrical Contractors
    Indiana Chamber of Commerce
    Indiana Manufacturers Association
    Industrial Supply Association
    Inland Pacific Chapter Associated Builders & Contractors
    Institute of Real Estate Management
    International Association of Plastics Distribution (IAPD)
    International Cemetery, Cremation and Funeral Association
    International Council of Shopping Centers
    International Dairy Foods Association
    International Foodservice Distributors Association
    International Franchise Association
    International Warehouse Logistics Association
    Irrigation Association
    ISSA -- The Worldwide Cleaning Industry Association
    Louisiana Logging Council
    Maine Potato Board
    Metals Service Center Institute
    Michigan Association of Timbermen
    Michigan Grocers Association
    Missouri Forest Products Association
    Modification and Replacement Parts Association
    Montana Equipment Dealers Association
    Montana Restaurant Association
    Montana Retail Association
    Montana Tire Dealers Association
    NAHAD - The Association for Hose & Accessories Distribution
    National All-Jersey
    National Apartment Association
    National Association of Chemical Distributers
    National Association of Convenience Stores
    National Association of Electrical Distributors
    National Association of Home Builders
    National Association of Manufacturers
    National Association of REALTORS®
    National Association of Shell Marketers
    National Association of Sporting Goods Wholesalers
    National Association of Wheat Growers
    National Association of Wholesaler-Distributors
    National Automobile Dealers Association
    National Barley Growers Association
    National Beer Wholesalers Association (NBWA)
    National Cattlemen's Beef Association
    National Confectioners Association
    National Corn Growers Association
    National Cotton Council
    National Council of Chain Restaurants
    National Council of Farmer Cooperatives
    National Electrical Manufacturers Representatives Association
    National Fastener Distributors Association
    National Federation of Independent Business
    National Funeral Directors Association
    National Golf Course Owners Association
    National Grocers Association
    National Lumber and Building Material Dealers Association
    National Marine Distributors Association
    National Milk Producers Federation
    National Multifamily Housing Council
    National Pork Producers Council
    National Potato Council
    National Propane Gas Association
    National Restaurant Association
    National Retail Federation
    National Roofing Contractors Association
    National Small Business Association
    National Sorghum Producers
    National Stone, Sand and Gravel Association
    National Sunflower Association
    National Tooling and Machining Association
    National Utility Contractors Association (NUCA)
    NATSO, Representing America's Truckstops and Travel Plazas
    New Jersey Business & Industry Association
    Non-Ferrous Founders' Society
    North American Die Casting Association
    North Carolina Retail Merchants Association
    North Country Chamber of Commerce
    North-American Association of Uniform Manufacturers & Distributors
    Northern Arizona Loggers Association
    Northern Plains Potato Growers Association
    NPES The Association for Suppliers of Printing, Publishing and Converting Technologies
    Pet Industry Distributors Association
    Petroleum Marketers & Convenience Stores of Iowa
    PMCI Trust
    Precision Machined Products Association
    Precision Metalforming Association
    RINAlliance Inc.®
    Small Business & Entrepreneurship Council
    Small Business Legislative Counsel
    Society of American Florists
    South Carolina Retail Association
    South East Dairy Farmers Association
    Southeast Milk Inc.
    Specialty Equipment Market Association
    SPI: The Plastics Industry Trade Association
    Tennessee Hospitality & Tourism Association
    Textile Care Allied Trades Association
    Outdoor Power Equipment and Engine Service Association (OPEESA)
    Tire Industry Association
    Truck Renting and Leasing Association
    U.S. Canola Association
    U.S. Chamber of Commerce
    United Egg Producers
    United Producers Inc.
    US Dry Bean Council
    USA Dry Pea & Lentil Council
    USA Rice Federation
    Utility & Transportation Contractors Association of New Jersey
    Washington State Potato Commission
    Western Equipment Dealers Association
    Western Growers Association
    Western United Dairymen
    Wichita Independent Business Association
    Wisconsin Grocers Association
    Wisconsin Manufacturers & Commerce
    Wisconsin Restaurant Association
    Woodworking Machinery Industry Association
  • Cross-Reference
    H.R. 636 2015 TNT 29-41: Text of Tax Bills.
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2015-3774
  • Tax Analysts Electronic Citation
    2015 TNT 31-88

 

February 12, 2015

 

 

The Honorable Pat Tiberi

 

U.S. House of Representatives

 

106 Cannon House Office Building

 

Washington, D.C. 20515

 

 

The Honorable Ron Kind

 

U.S. House of Representatives

 

1502 Longworth House Office Building

 

Washington, D.C. 20515

 

 

Dear Representatives Tiberi and Kind:

The undersigned organizations, representing millions of businesses from every state and from every industry sector, are writing in strong support of H.R. 636, the America's Small Business Tax Relief Act of 2015. 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.

Small business expensing allows business owners to immediately deduct the cost of a qualified investment in the year that it is purchased, rather than being forced to depreciate the cost of the investment over time. Since 2003, Congress has steadily increased the amount of investment that small businesses can expense from $25,000 to $500,000. Support for this expansion has been long-standing, bipartisan and widespread. Legislation expanding and/or extending small business expensing has been enacted nine times, across two Presidential Administrations and six Congresses, under both Democratic and Republican leadership. These higher expensing limits were temporary, however, and at the beginning of this year they again reverted to $25,000 and will remain there unless Congress acts.

While expensing provides important relief to small business owners, it is not a "tax cut" or a "tax loophole." Small business expensing simply gives companies the ability to recover the cost of investing in their own businesses more quickly than if they use depreciation. Expensing does not lead to a loss of revenue to the government over the lifetime of an investment -- it is not a matter of if revenue is collected, but when. Additionally, small business expensing is available to all small businesses that purchase less than a specified amount of equipment each year.

Small business expensing gives business owners the ability to maximize investment in their companies during years when they have positive cash flow. This provides an incentive for small business owners to reinvest in their businesses, which fuels expansion, growth and jobs. This is particularly important for small businesses because they are more sensitive than larger firms to problems related to cash flow and are more reliant on earnings to finance new investment.

Additionally, small business expensing simplifies record-keeping and paperwork. Under standard depreciation, small business owners must keep records of, and file tax paperwork associated with, eligible investments for up to 39 years. According to a 2007 Internal Revenue Service (IRS) study, each small business devotes, on average, about 240 hours complying with the tax code, and spends over $2,000 in tax compliance costs each year. An overwhelming share of the time burden is due to record-keeping. Furthermore, high tax compliance costs consistently rank as a top concern of small business owners, and act as a drag on investment, growth and innovation. Small business expensing, as the Joint Committee on Taxation (JCT) notes, reduces the compliance burden for many taxpayers, freeing up time and resources to better devote to their businesses.

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 significant economic challenges. We thank you for introducing H.R. 636, the America's Small Business Tax Relief Act of 2015 and urge all Members of Congress to support this important legislation.

Sincerely,

 

 

60 Plus Association

 

 

Academy of General Dentistry

 

 

Advanced Medical Technology

 

Association's Emerging Growth

 

Company Council

 

 

Aeronautical Repair Station

 

Association

 

 

Agricultural Retailers Association

 

 

Air Conditioning Contractors of

 

America

 

 

American Apparel & Footwear

 

Association

 

 

American Association of Small

 

Property Owners

 

 

American Composites Manufacturers

 

Association

 

 

American Council of Engineering

 

Companies

 

 

American Dental Association

 

 

American Farm Bureau Federation

 

 

American Foundry Society

 

 

American Loggers Council

 

 

American Moving & Storage

 

Association

 

 

American Rental Association

 

 

American Road & Transportation

 

Builders Association

 

 

American Sheep Industry

 

Association

 

 

American Society of Travel Agents

 

 

American Subcontractors

 

Association, Inc.

 

 

American Sugarbeet Growers

 

Association

 

 

American Supply Association

 

 

American Truck Dealers

 

 

American Veterinary Medical

 

Association

 

 

Americans for Tax Reform

 

 

AMT -- The Association For

 

Manufacturing Technology

 

 

Arizona Small Business Association

 

 

Associated Builders and

 

Contractors

 

 

Associated Builders and

 

Contractors -- Greater Tennessee

 

Chapter

 

 

Associated Builders and

 

Contractors Florida East Coast

 

Chapter

 

 

Associated Builders and

 

Contractors, Rocky Mountain

 

Chapter

 

 

Associated Equipment Distributors

 

 

Associated General Contractors

 

 

Associated Oregon Loggers, Inc.

 

 

Association of Equipment

 

Manufacturers

 

 

Association of Pool & Spa

 

Professionals

 

 

Association of the Wall and

 

Ceiling Industry

 

 

Auto Care Association

 

 

Automotive Parts Remanufacturers

 

Association (APRA)

 

 

Aviation Suppliers Association

 

 

California Farm Bureau Federation

 

 

Carolinas Food Industry Council

 

 

CCIM Institute

 

 

Chamber of Commerce Southern New

 

Jersey

 

 

Clean Water Construction Coalition

 

 

Colorado Wyoming Petroleum

 

Marketers Association

 

 

Construction Industry Round Table

 

 

Cotton Warehouse Association of

 

America

 

 

Delaware Retail Council

 

 

Delaware State Chamber of Commerce

 

 

Equipment Leasing and Finance

 

Association (ELFA)

 

 

Equipment Marketing & Distribution

 

Association (EMDA)

 

 

Foodservice Equipment Distributors

 

Association

 

 

Great Lakes Timber Professionals

 

Association

 

 

Hearth, Patio & Barbecue

 

Association

 

 

Heating, Air-Conditioning and

 

Refrigeration Distributors

 

International (HARDI)

 

 

Idaho Dairymen's Association

 

 

Image Apparel Institute

 

 

Independent Electrical Contractors

 

 

Indiana Chamber of Commerce

 

 

Indiana Manufacturers Association

 

 

Industrial Supply Association

 

 

Inland Pacific Chapter Associated

 

Builders & Contractors

 

 

Institute of Real Estate

 

Management

 

 

International Association of

 

Plastics Distribution (IAPD)

 

 

International Cemetery, Cremation

 

and Funeral Association

 

 

International Council of Shopping

 

Centers

 

 

International Dairy Foods

 

Association

 

 

International Foodservice

 

Distributors Association

 

 

International Franchise

 

Association

 

 

International Warehouse Logistics

 

Association

 

 

Irrigation Association

 

 

ISSA --The Worldwide Cleaning

 

Industry Association

 

 

Louisiana Logging Council

 

 

Maine Potato Board

 

 

Metals Service Center Institute

 

 

Michigan Association of Timbermen

 

 

Michigan Grocers Association

 

 

Missouri Forest Products

 

Association

 

 

Modification and Replacement Parts

 

Association

 

 

Montana Equipment Dealers

 

Association

 

 

Montana Restaurant Association

 

 

Montana Retail Association

 

 

Montana Tire Dealers Association

 

 

NAHAD -- The Association for Hose &

 

Accessories Distribution National

 

All-Jersey

 

 

National Apartment Association

 

 

National Association of Chemical

 

Distributers

 

 

National Association of

 

Convenience Stores

 

 

National Association of Electrical

 

Distributors

 

 

National Association of Home

 

Builders

 

 

National Association of

 

Manufacturers

 

 

National Association of

 

REALTORS®

 

 

National Association of Shell

 

Marketers

 

 

National Association of Sporting

 

Goods Wholesalers

 

 

National Association of Wheat

 

Growers

 

 

National Association of

 

Wholesaler-Distributors

 

 

National Automobile Dealers

 

Association

 

 

National Barley Growers

 

Association

 

 

National Beer Wholesalers

 

Association (NBWA)

 

 

National Cattlemen's Beef

 

Association

 

 

National Confectioners Association

 

 

National Corn Growers Association

 

 

National Cotton Council

 

 

National Council of Chain

 

Restaurants

 

 

National Council of Farmer

 

Cooperatives

 

 

National Electrical Manufacturers

 

Representatives Association

 

 

National Fastener Distributors

 

Association

 

 

National Federation of Independent

 

Business

 

 

National Funeral Directors

 

Association

 

 

National Golf Course Owners

 

Association

 

 

National Grocers Association

 

 

National Lumber and Building

 

Material Dealers Association

 

 

National Marine Distributors

 

Association

 

 

National Milk Producers Federation

 

 

National Multifamily Housing

 

Council

 

 

National Pork Producers Council

 

 

National Potato Council

 

 

National Propane Gas Association

 

 

National Restaurant Association

 

 

National Retail Federation

 

 

National Roofing Contractors

 

Association

 

 

National Small Business

 

Association

 

 

National Sorghum Producers

 

 

National Stone, Sand and Gravel

 

Association

 

 

National Sunflower Association

 

 

National Tooling and Machining

 

Association

 

 

National Utility Contractors

 

Association (NUCA)

 

 

NATSO, Representing America's

 

Truckstops and Travel Plazas

 

 

New Jersey Business & Industry

 

Association

 

 

Non-Ferrous Founders' Society

 

 

North American Die Casting

 

Association

 

 

North Carolina Retail Merchants

 

Association

 

 

North Country Chamber of Commerce

 

 

North-American Association of

 

Uniform Manufacturers &

 

Distributors

 

 

Northern Arizona Loggers

 

Association

 

 

Northern Plains Potato Growers

 

Association

 

 

NPES The Association for Suppliers

 

of Printing, Publishing and

 

Converting Technologies

 

 

Pet Industry Distributors

 

Association

 

 

Petroleum Marketers & Convenience

 

Stores of Iowa

 

 

PMCI Trust

 

 

Precision Machined Products

 

Association

 

 

Precision Metalforming Association

 

 

RINAlliance, Inc.®

 

 

Small Business & Entrepreneurship

 

Council

 

 

Small Business Legislative Counsel

 

 

Society of American Florists

 

 

South Carolina Retail Association

 

 

South East Dairy Farmers

 

Association

 

 

Southeast Milk, Inc.

 

 

Specialty Equipment Market

 

Association

 

 

SPI: The Plastics Industry Trade

 

Association

 

 

Tennessee Hospitality & Tourism

 

Association

 

 

Textile Care Allied Trades

 

Association

 

 

The Outdoor Power Equipment and

 

Engine Service Association

 

(OPEESA)

 

 

Tire Industry Association

 

 

Truck Renting and Leasing

 

Association

 

 

U.S. Canola Association

 

 

U.S. Chamber of Commerce

 

 

United Egg Producers

 

 

United Producers, Inc.

 

 

US Dry Bean Council

 

 

USA Dry Pea & Lentil Council

 

 

USA Rice Federation

 

 

Utility & Transportation

 

Contractors Association of New

 

Jersey

 

 

Washington State Potato Commission

 

 

Western Equipment Dealers

 

Association

 

 

Western Growers Association

 

 

Western United Dairymen

 

 

Wichita Independent Business

 

Association

 

 

Wisconsin Grocers Association

 

 

Wisconsin Manufacturers & Commerce

 

 

Wisconsin Restaurant Association

 

 

Woodworking Machinery Industry

 

Association

 

Cc:

 

Hon. Paul Ryan

 

Hon. Sander Levin
DOCUMENT ATTRIBUTES
  • Institutional Authors
    60 Plus Association
    Academy of General Dentistry
    Advanced Medical Technology Association's Emerging Growth Company Council
    Aeronautical Repair Station Association
    Agricultural Retailers Association
    Air Conditioning Contractors of America
    American Apparel & Footwear Association
    American Association of Small Property Owners
    American Composites Manufacturers Association
    American Council of Engineering Companies
    American Dental Association
    American Farm Bureau Federation
    American Foundry Society
    American Loggers Council
    American Moving & Storage Association
    American Rental Association
    American Road & Transportation Builders Association
    American Sheep Industry Association
    American Society of Travel Agents
    American Subcontractors Association Inc.
    American Sugarbeet Growers Association
    American Supply Association
    American Truck Dealers
    American Veterinary Medical Association
    Americans for Tax Reform
    AMT - The Association For Manufacturing Technology
    Arizona Small Business Association
    Associated Builders and Contractors
    Associated Builders and Contractors Greater Tennessee Chapter
    Associated Builders and Contractors Florida East Coast Chapter
    Associated Builders and Contractors Rocky Mountain Chapter
    Associated Equipment Distributors
    Associated General Contractors
    Associated Oregon Loggers Inc.
    Association of Equipment Manufacturers
    Association of Pool & Spa Professionals
    Association of the Wall and Ceiling Industry
    Auto Care Association
    Automotive Parts Remanufacturers Association (APRA)
    Aviation Suppliers Association
    California Farm Bureau Federation
    Carolinas Food Industry Council
    CCIM Institute
    Chamber of Commerce Southern New Jersey
    Clean Water Construction Coalition
    Colorado Wyoming Petroleum Marketers Association
    Construction Industry Round Table
    Cotton Warehouse Association of America
    Delaware Retail Council
    Delaware State Chamber of Commerce
    Equipment Leasing and Finance Association (ELFA)
    Equipment Marketing & Distribution Association (EMDA)
    Foodservice Equipment Distributors Association
    Great Lakes Timber Professionals Association
    Hearth, Patio & Barbecue Association
    Heating, Air-Conditioning and Refrigeration Distributors International (HARDI)
    Idaho Dairymen's Association
    Image Apparel Institute
    Independent Electrical Contractors
    Indiana Chamber of Commerce
    Indiana Manufacturers Association
    Industrial Supply Association
    Inland Pacific Chapter Associated Builders & Contractors
    Institute of Real Estate Management
    International Association of Plastics Distribution (IAPD)
    International Cemetery, Cremation and Funeral Association
    International Council of Shopping Centers
    International Dairy Foods Association
    International Foodservice Distributors Association
    International Franchise Association
    International Warehouse Logistics Association
    Irrigation Association
    ISSA -- The Worldwide Cleaning Industry Association
    Louisiana Logging Council
    Maine Potato Board
    Metals Service Center Institute
    Michigan Association of Timbermen
    Michigan Grocers Association
    Missouri Forest Products Association
    Modification and Replacement Parts Association
    Montana Equipment Dealers Association
    Montana Restaurant Association
    Montana Retail Association
    Montana Tire Dealers Association
    NAHAD - The Association for Hose & Accessories Distribution
    National All-Jersey
    National Apartment Association
    National Association of Chemical Distributers
    National Association of Convenience Stores
    National Association of Electrical Distributors
    National Association of Home Builders
    National Association of Manufacturers
    National Association of REALTORS®
    National Association of Shell Marketers
    National Association of Sporting Goods Wholesalers
    National Association of Wheat Growers
    National Association of Wholesaler-Distributors
    National Automobile Dealers Association
    National Barley Growers Association
    National Beer Wholesalers Association (NBWA)
    National Cattlemen's Beef Association
    National Confectioners Association
    National Corn Growers Association
    National Cotton Council
    National Council of Chain Restaurants
    National Council of Farmer Cooperatives
    National Electrical Manufacturers Representatives Association
    National Fastener Distributors Association
    National Federation of Independent Business
    National Funeral Directors Association
    National Golf Course Owners Association
    National Grocers Association
    National Lumber and Building Material Dealers Association
    National Marine Distributors Association
    National Milk Producers Federation
    National Multifamily Housing Council
    National Pork Producers Council
    National Potato Council
    National Propane Gas Association
    National Restaurant Association
    National Retail Federation
    National Roofing Contractors Association
    National Small Business Association
    National Sorghum Producers
    National Stone, Sand and Gravel Association
    National Sunflower Association
    National Tooling and Machining Association
    National Utility Contractors Association (NUCA)
    NATSO, Representing America's Truckstops and Travel Plazas
    New Jersey Business & Industry Association
    Non-Ferrous Founders' Society
    North American Die Casting Association
    North Carolina Retail Merchants Association
    North Country Chamber of Commerce
    North-American Association of Uniform Manufacturers & Distributors
    Northern Arizona Loggers Association
    Northern Plains Potato Growers Association
    NPES The Association for Suppliers of Printing, Publishing and Converting Technologies
    Pet Industry Distributors Association
    Petroleum Marketers & Convenience Stores of Iowa
    PMCI Trust
    Precision Machined Products Association
    Precision Metalforming Association
    RINAlliance Inc.®
    Small Business & Entrepreneurship Council
    Small Business Legislative Counsel
    Society of American Florists
    South Carolina Retail Association
    South East Dairy Farmers Association
    Southeast Milk Inc.
    Specialty Equipment Market Association
    SPI: The Plastics Industry Trade Association
    Tennessee Hospitality & Tourism Association
    Textile Care Allied Trades Association
    Outdoor Power Equipment and Engine Service Association (OPEESA)
    Tire Industry Association
    Truck Renting and Leasing Association
    U.S. Canola Association
    U.S. Chamber of Commerce
    United Egg Producers
    United Producers Inc.
    US Dry Bean Council
    USA Dry Pea & Lentil Council
    USA Rice Federation
    Utility & Transportation Contractors Association of New Jersey
    Washington State Potato Commission
    Western Equipment Dealers Association
    Western Growers Association
    Western United Dairymen
    Wichita Independent Business Association
    Wisconsin Grocers Association
    Wisconsin Manufacturers & Commerce
    Wisconsin Restaurant Association
    Woodworking Machinery Industry Association
  • Cross-Reference
    H.R. 636 2015 TNT 29-41: Text of Tax Bills.
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2015-3774
  • Tax Analysts Electronic Citation
    2015 TNT 31-88
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