I rise today to thank the bipartisan leadership and the White House for including a bonus depreciation provision in the proposed economic stimulus package. Currently, the package we plan to vote on tomorrow will include a 50 percent bonus depreciation for the first year for certain machinery and equipment purchases. This increase in bonus depreciation was included in the Jobs Tax Relief Act of 2003 and contributed to the productivity of small businesses, a boost in job creation, and a steady rise in the growth of the economy over the last 5 years. This incentive for small businesses enables them to compete with foreign competitors. The best way to weather this current economic storm is to build on the principles that have made our economy the envy of the world. That means lower taxes, less government regulation, and economic incentives for American businesses. We should promote the concept that the people should keep their own money which they know how to spend best as explained by editor Jerry Bellune of the Lexington County Chronicle. In conclusion, God bless our troops, and we will never forget September the 11th.
Editor's note · Context
Discussing the economic stimulus package and its impact on small businesses.
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