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Business Roundtable Statement on Bonus Depreciation

Washington – Business Roundtable Chairman Randall Stephenson, Chairman and CEO of AT&T Inc., made the following statement today on HR 4718, Rep. Pat Tiberi’s bonus depreciation bill:

The global marketplace is increasingly competitive with foreign countries competing hard for jobs and business investment. Five years after the start of the U.S. economic recovery, growth is still subpar and grindingly stubborn. As a bridge to comprehensive tax reform, Congress should continue the current tax policies that promote business investment and job creation, including the R&D tax credit, 50-percent bonus depreciation, and the active financing and CFC look-through rules.

 “Consistent with this approach, we urge Members of the House Ways and Means Committee to continue bonus depreciation. This is a tax policy that has consistently received bipartisan backing in Congress and the Administration for its support for U.S. employment and economic growth.  
 
“Business Roundtable remains firmly dedicated to comprehensive tax reform and understands that all major policies will need to be reviewed as part of that process to create a modern, permanent and more competitive tax code. As a path to tax reform, we reiterate our support for this bill and urge Congress to work together to pass tax extenders legislation as quickly as possible.”  

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