ELFA issues statement on FY 2011 budget submission.
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Press Release Summary:
In his statement, ELFA Interim President Ralph Petta commends Obama Administration for proposals related to business investment and tax incentives. Specifically, ELFA applauds proposal to enhance investment in new plant and equipment for all businesses by proposing extension of tax bonus depreciation through December 31, 2010. ELFA and its members support proposals and tax incentives for both large and small businesses designed to provide stimulus to the economy.
Original Press Release:
Equipment Leasing and Finance Association Issues Statement on Obama Administration FY 2011 Budget Submission
ELFA Applauds Proposals to Increase Business Investment
Washington, DC, -The Equipment Leasing and Finance Association (ELFA) issued a statement today in response to proposals in the Obama Administration's FY 2011 Federal Budget. In his statement, ELFA Interim President Ralph Petta commends the Administration for its proposals related to business investment and tax incentives which the ELFA believes will help drive much needed growth in the economy.
The statement reads as follows:
"The Equipment Leasing and Finance Association (ELFA) commends the Obama Administration for its budget proposals to increase investment in plant and equipment, enhance access to capital, and encourage small business lending.
Specifically, the ELFA applauds the proposal to enhance investment in new plant and equipment for all businesses by proposing the extension of tax bonus depreciation through December 31, 2010. For several years, the ELFA has advocated for the extension of bonus depreciation and will work to assure that the Congress once again adopts favorable bonus depreciation language for the equipment finance industry, which should enhance liquidity in the equipment finance market.
The ELFA and its member companies support proposals and tax incentives for both large and small businesses designed to provide a much needed stimulus to the economy. These incentives spur investment in plant and equipment, which is a key driver in capital formation, economic growth and productivity.
The ELFA pledges to work with the Congress and the Administration in the coming weeks on proposals to strengthen the economy and stimulate job growth."
About the ELFA
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $518 billion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its over 600 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit www.elfaonline.org
ELFA is the premier source for statistics and analyses concerning the equipment finance sector. Please visit www.elfaonline.org/ind/research/ for additional information.
Media/Press Contact: Diane Johnson, 703-391-2056, diane@fourleafpr.com
