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SMALL BUSINESS APPLAUDS DIRECT EXPENSING PROVISION

 WASHINGTON, May 12 /PRNewswire/ -- "We are pleased the president has offered to revise his tax incentives for small business," said H. Ted Olson, chairman of the Small Business Legislative Council (SBLC), speaking of the administration's indication to the Committee on Ways and Means the president would support an increase in the amount a small business can write off as a direct expense from $10,000 to $25,000.
 "We hope the Committee on Ways and Means will accept the proposal which we understand has been put forth by Chairman Rostenkowski. 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: "The president has clearly indicated throughout the campaign and his first 100 days in office his commitment to small business. The fact he was willing to make course adjustments indicates the commitment remains a high priority."
 Olson continued: "Of course, we must also note the role of Chairman Rostenkowski. It comes to us as no surprise the chairman would be involved in 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," continued Olson.
 Olson also 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. The process has a long way to go and we look forward to addressing such issues 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 president and Chairman Rostenkowski."
 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 or Columbia IN: FIN SU: LEG

TW-IH -- DC017 -- 7601 05/12/93 12:53 EDT
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Date:May 12, 1993
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