ThomasNet News Logo
Sign Up | Log In | ThomasNet Home | Promote Your Business

Manufacturers support extension of bonus depreciation.

Print | 
Email |  Comment   Share  
July 16, 2010 - National Association of Manufacturers urged Congress to extend bonus depreciation, a proven incentive for manufacturers of all sizes to invest in new, more efficient equipment, stimulating much-needed economic growth and job creation. Bonus depreciation allows businesses to immediately deduct 50% of the cost of new machinery, equipment, and other essential capital investments, which lowers after-tax cost of capital equipment and drives demand for such purchases.

Manufacturers Support Extension of Bonus Depreciation


(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)

National Association Of Manufacturers (NAM)
1331 Pennsylvania Ave. N.W.
Washington, DC, 20004
USA



Press release date: July 14, 2010

Renewing Incentive Will Spur Capital Investment and Aid Economic Recovery

WASHINGTON, D.C., - The National Association of Manufacturers (NAM) today urged Congress to extend bonus depreciation, a proven incentive for manufacturers of all sizes to invest in new, more efficient equipment, stimulating much-needed economic growth and job creation.

Bonus depreciation allows businesses to immediately deduct 50 percent of the cost of new machinery, equipment and other essential capital investments. Bottom line, it lowers the after-tax cost of capital equipment and drives demand for such purchases. Thus, this increase in demand in capital goods boosts sales for manufacturers of these products and contributes to job creation and overall economic growth.

"At a time when manufacturers face much uncertainty, this incentive will help them make needed investments and encourage job creation," said NAM Vice President of Tax and Domestic Economic Policy Dorothy Coleman. "We appreciate the efforts of the House Small Business Committee to highlight the importance of bonus depreciation, particularly for the small manufacturing companies that are vital to our economic recovery."

Investment in equipment and software has slowed from 19 percent in the fourth quarter of 2009 to just 11.4 percent in the first quarter of 2010. President Obama's Fiscal Year 2011 Budget proposes a one-year extension of bonus depreciation.

"Bonus depreciation has bipartisan and bicameral support and can help immediately create much needed jobs for manufacturers of all sizes. We will continue to work with Congress to speed the reinstatement of this important incentive that will help spur economic growth and provide relief to small businesses," said Coleman.

The NAM has outlined important tax policy changes to enhance our nation's manufacturing competitiveness in the "Manufacturing Strategy for Jobs and a Competitive America."

The National Association of Manufacturers is the nation's largest industrial trade association, representing manufacturers in every industrial sector and in all 50 states. Manufacturing has a presence in every single congressional district providing good, high-paying jobs. For more information about the Manufacturers, visit www.nam.org. Please follow our commentary on U.S. manufacturing policy at twitter.com/Shopfloor_NAM and our blog at www.shopfloor.org.
Print | 
Email |  Comment   Share  
Contacts: View detailed contact information.


 

Post a comment about this story

Name:
E-mail:
(your e-mail address will not be posted)
Comment title:
Comment:
To submit comment, enter the security code shown below and press 'Post Comment'.
 



 See related product stories
More .....
 See more product news in:
Services
| Featured Manufacturing Jobs
 Other News from this company:
NACD and Associquim Sign Memorandum of Understanding
Good News on ACA Implementation - Kind of
Participate in Manufacturing Day - Mark Your Calendars for October 4!
Business Group Praises Bipartisan Introduction of Bill Preventing Costly and Unnecessary Regulation of Main Street Risk Management
Manufacturers Win in Fight Against NLRB Overreach
More ....
 Tools for you
Watch Company 
View Company Profile
Company web site
More news from this company
E-mail this story to a friend
Save Story
Search for suppliers of
Trade Associations


Home  |  My ThomasNet News®  |  Industry Market Trends®  |  Submit Release  |  Advertise  |  Contact News  |  About Us
Brought to you by Thomasnet.com        Browse ThomasNet Directory

Copyright © 2014 Thomas Publishing Company. All Rights Reserved.
Terms of Use - Privacy Policy



Error close

Please enter a valid email address