On the recordMay 9, 2003
North Carolina unemployment is as bad as it is anywhere. Broyhill Industries just announced it is laying off 500 people from their furniture factory. My little company has been operating wide open in North Carolina, lots of overtime, and that does not cost anything in additional expenditures and investment, but it reduces our efficiency. The jobs part of the tax bill increasing depreciation writeoffs make it sensible to buy machinery and to cut down on overtime by creating four new jobs by investing $170,000. We would not do this if it were not a plus in the tax bill. The jobs will be created in the same county where Broyhill laid off 500 people. Mr. Speaker, I think people who have never been involved in employing people and working together do not recognize what an advantage this new tax bill is for creating jobs.
Source
govinfo.gov
