I also will note that President Bush also spoke in support of a bonus depreciation only a few days ago. I quote from him: But any good stimulus package plan must ask the question ``how do we create more jobs?'' and one way to do that is to accelerate tax relief for workers, and the other way to do that is to make sure that the Tax Code doesn't punish companies like Walker. That is the one he was visiting. We ought to allow them to accelerate the depreciation schedule so it is more likely they will buy more equipment. That is simply what we are doing, Mr. President. We are trying to allow this bonus with enough time that they can take enough advantage of it for the greater advantage of our entire country. Mr. President, I think we all recognize that the No. 1 issue in the hearts and the homes of the American people is economic security, as well as national security. I, for one, was deeply disappointed that we went home for Christmas not as Santa Claus but as Scrooge. We should have done this before we left. I am glad, however, that the majority leader has brought it up and is allowing this to go forward now. I hope we are successful because I think we ought to show the American people that we are doing all we can to make this happen and are taking out the insurance policy that is necessary to support our economy and our people.
Editor's note · Context
Discussing the importance of bonus depreciation for economic stimulus and job creation.
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