Printer Friendly

SMALL BUSINESS BLASTS RUMORED DIRECT EXPENSING CUTBACK IN TAX BILL

 WASHINGTON, June 10 /PRNewswire/ -- "Outrageous" was Small Business Legislative Council (SBLC) President John S. Satagaj's reaction to reports that the Senate Finance Committee is considering scaling back the House-approved provision to increase the small business direct expensing provision. The House had approved an increase from $10,000 to $25,000 in the first year write-off for tangible property. Reports indicate the Senate Finance Committee is considering a proposal to set the limit at $20,000.
 Satagaj said: "It is hard for us to imagine that anyone could profess to be `for small business' and go along with such a cutback. The direct expensing increase is the most clearly identifiable piece of the tax bill considered a plus for small business.
 "We can make a pretty good case that small business is carrying its fair share of the tax burden in this bill. It is hard to imagine why anyone would want to add insult to injury by paring back this provision," Satagaj continued.
 Satagaj concluded: "You would think Congress would want to gain small business support. Certainly, at the very least, you would think they would not want to further alienate small business. They are making it very difficult for us to be constructive participants in this process. We are very disappointed a cut-back is even under consideration."
 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's policies are developed through a consensus among its membership. Individual associations may express their own views.
 -0- 6/10/93
 /CONTACT: Small Business Legislative Council, 202-639-8500/


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

MH-DC -- DC006 -- 0522 06/10/93 10:02 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 10, 1993
Words:317
Previous Article:NEW APPLEBEE'S TO OPEN AT BASELINE AND GILBERT
Next Article:MICHIGAN, OHIO COMPANIES TEAM UP IN CELLULAR JOINT VENTURE
Topics:


Related Articles
SMALL BUSINESS OWNERS OPPOSE REDUCTION OF VENDORS FEE FOR COLLECTION OF SALES TAX
SMALL BUSINESS APPLAUDS DIRECT EXPENSING PROVISION
DIRECT EXPENSING APPROVAL A VICTORY FOR SMALL BUSINESS
SMALL BUSINESS OWNERS BLAST DEMOCRAT'S TAX BILL
S corporation reform bill introduced in Senate.
SMALL BUSINESS SOLID IN SUPPORT FOR TAX, DEFICIT RELIEF
Small business gets some of what it wants from Congress - is more to come?
Republicans offer poison pill: will the medical savings bill kill health insurance reform?
Aviation tax could ground small business.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters