On the recordMarch 4, 2010
I am pleased to speak on behalf of this amendment which was cosponsored by Senators Hatch, Schumer, Crapo, Snowe, Sherrod Brown, Enzi, Risch, and Collins. This focuses on companies that continue to face significant challenges in raising capital for new investments. It would allow struggling companies that do not benefit from other incentives, such as the NOL carryback and others, to utilize existing AMT credits based on new investments they make in this year for equipment and so on to create jobs. It encourages companies to invest and to allow companies to be able to receive a badly needed source of capital. This is very important for companies that will be in a position where they are not making a profit but are continuing to invest, to maintain their workforce, or grow their workforce, and need to be able to have a source of capital. This is dollars they would be receiving at some point anyway, because when they become profitable, they are able to use the credits. We are going to allow them to use a portion, just 10 percent of those credits, to be able to invest in equipment.
