Political Quotes

“Mr. President, tomorrow the Senate will vote on the Protecting Americans from Tax Hikes Act of 2015, which will provide needed tax certainty and predictability for our Nation's small businesses, enabling them to create more jobs and boost our economy. Several months ago, on April 30, I was joined by my friend and colleague from Pennsylvania, Senator Casey, in introducing the Small Business Tax Certainty and Growth Act of 2015. Our bill aimed to help small businesses invest, grow, and create jobs by providing needed tax relief and certainty. Senator Casey has been a true partner in advancing this bill, and we are so pleased that the Protecting Americans from Tax Hikes Act takes three key provisions from our bipartisan bill. These provisions include, first, the permanent extension of section 179 expensing, indexed for inflation, which will allow small businesses to write off up to $500,000 of the cost of certain equipment. I would note that this provision is so important to our smaller businesses that it is the No. 1 tax priority of our Nation's largest small business advocacy group, the National Federation of Independent Business. Second, the bill includes the permanent extension of the 15-year deduction period for restaurants and retailers to improve their space and to buy new equipment. This is so important because otherwise the Tax Code reverts to a 39-year depreciation schedule. That is totally unrealistic.…”