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DIRECT EXPENSING APPROVAL A VICTORY FOR SMALL BUSINESS

 WASHINGTON, May 12 /PRNewswire/ -- "Score one for Chairman Rostenkowski and for small business," said H. Ted Olson, chairman of the Small Business Legislative Council (SBLC), speaking of reports that the Committee on Ways and Means had given approval of an increase in the amount a small business can write off as a direct expense from $10,000 to $25,000.
 "Direct expensing has always been a high priority for small business and SBLC in particular and was a priority for the delegates of both the 1980 and 1986 White House Conferences on Small Business. Cash flow is the lifeline of small business, and any provision that allows them to write off immediately the cost of new equipment keeps the lifeline open," continued Olson.
 Olson noted: "It comes to us as no surprise the chairman would undertake this initiative. Many people forget that Chairman Rostenkowski first came to the aid of small business in this subject area in 1981, when he played an instrumental role in securing passage of the original Section 179 provision. We were pleased to be allied with him then, and we are happy to be working with him again. We have always found the chairman to be willing to listen to our concerns.
 "Addition of direct expensing is a major improvement. The increase in the direct expensing will help millions of smaller businesses. While we are sorry the committee could not make the Investment Tax Credit work for small business, this is a very positive alternative, and we commend the president for indicating he believes the direct expensing provision is a worthwhile `course adjustment,'" continued Olson.
 Olson noted: "We have raised a number of issues regarding the budget reconciliation package. We said from the start, we expected to work with this administration and Congress to try to work things out but that we were on the right course. We hope we can work with them to address additional problems such as the disproportionate impact of the lobbying deduction prohibition on small business."
 Olson concluded: "Whatever is said about the impact of the budget reconciliation process on small business, it must be recognized an increase in the direct expensing provision has long been sought by small business, it is of direct benefit exclusively to small business and its adoption is reaffirmation of the important role small business plays in the economy and economic policy. Our hats off again to the chairman and the president."
 The SBLC is a permanent, independent coalition of nearly 100 trade and professional associations that share a common commitment to the future of small business. Its members represent the interests of small businesses in such diverse economic sectors as manufacturing, retailing, distribution, professional and technical services, construction, transportation, and agriculture. SBLC policies are developed through a consensus among its membership. Individual associations may express their own views.
 -0- 5/12/93
 /CONTACT: John S. Satagaj of the Small Business Legislative Council, 202-639-8500/


CO: Small Business Legislative Council ST: District of Columbia IN: FIN SU: LEG

IH -- DC024 -- 7740 05/12/93 16:26 EDT
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Date:May 12, 1993
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