Dave Camp: “The tax burden that small businesses, farmers, ranchers, and their workers face is too high. Every dollar Washington…”

“The tax burden that small businesses, farmers, ranchers, and their workers face is too high. Every dollar Washington takes from small businesses is a dollar that they don't have to invest in equipment, to start a new production line, to hire a new employee, or to provide more in wages and benefits. Businesses aren't growing, and hardworking Americans are seeing stagnant wages and fewer work hours. This is unacceptable. These days, it seems that Congress can rarely agree on much, so when we can find some common ground to help grow the economy and get businesses to invest and hire new workers, we should act immediately. The legislation we have before us today, America's Small Business Tax Relief Act of 2014, would do just that by providing a permanent extension of section 179 expensing at a level of $500,000. Section 179 is a bipartisan provision that has been in place since the 1950s, but businesses, farmers, and ranchers cannot reap the full benefits when they have no idea if this provision is going to be around the next year or what it may look like. This hurts their ability to plan for the future and expand their businesses. The Farm Bureau recently stated: This practice makes it very difficult for farmers and ranchers to plan, and it adds immense confusion and complexity to the Tax Code.…”