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House Action on Tax Policy Will Promote Business Investment

Business Leaders Welcome Permanent Extension of Key Investment Expensing Provision

WashingtonBusiness Roundtable today applauded the House of Representatives for passing a permanent and modified extension of the 50 percent expensing provision that allows businesses to immediately deduct half the cost of new business equipment investments.

“Today’s House vote is a positive step towards accelerating higher business investment and growth, which are needed to restore the productive capacity of the U.S. economy and propel job creation,” said Randall Stephenson, Chairman and Chief Executive Officer of AT&T Inc. and Chairman of Business Roundtable. “Fifty percent expensing reduces the cost of capital for business investment, thereby allowing business to undertake a greater amount of investment so the Senate should act without delay.”

In addition to the 50 percent expensing provision, Business Roundtable also supports other important business tax extenders such as the R&D tax credit, the CFC look-through rule and the active financing rule.

“Ultimately, U.S. economic growth will require a thoroughly reformed, permanent, modernized and simplified tax code,” Stephenson said. “Business Roundtable urges Congress to enact legislation to renew these major pro-growth tax extenders and then move forward with broader tax reform.”

Stephenson sent a letter to all House members encouraging them to support the 50 percent expensing legislation. A copy of the letter is here.

Business Roundtable earlier this year released a policy agenda for supporting additional U.S. jobs and economic growth. Comprehensive tax reform is important for U.S. competitiveness and economic expansion.

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