Jack Kingston: “The other things we are doing in order to help small businesses and we think it is very important to help small…”

“The other things we are doing in order to help small businesses and we think it is very important to help small businesses because that is still 70 percent of the employment in this country, and, unfortunately, large businesses come and go. And it is a tremendous loss. We just lost a paper mill in St. Mary's, Georgia that I represent, 903 jobs. Those jobs are probably gone permanently. We hope something will happen to make that statement not the case, but unfortunately that is what it is looking like right now. Small businesses, you can lose one or two of them and the economy still moves along. But depreciation, faster depreciation, increasing the bonus depreciation from 30 to 50 percent and extending it another few years, again so small businesses can make investments and write them off faster, and we believe that is going to be very healthy for small businesses. Also allowing them to have a 5-year net operating loss carry-back for 3 years, and that will help small businesses recover from some of the losses they have suffered under in this post- 9/11 economy. And then, finally, increasing the expensing from 25 to $100,000. All of this is going to help your bicycle shop, your pet store, your clothes store, your tire store, all the small Main Street businesses back home. And we believe if you can help them you will do a lot for that NASCAR race fan. I always say what we need to do is build tax policy around the NASCAR race fan.”