One way we gave small businesses more money to invest was by extending tax provisions on expensing. This allows businesses to immediately write off things like equipment, without being burdened by depreciation requirements.
Sentiment: POSITIVE
When businesses face tough times, one of the first items they cut is overhead expenses. The government should do the same.
In various countries around the world, assets that had previously been in the hands of governments were sold off to the private sector in the hope that this would lead to a more efficient allocation, that these assets would be put to better use.
Politicians also have a love affair with the 'small business exemption.' Too much paperwork? Too heavy a burden? Not enough time? Just exempt small businesses from the rule. It sounds so pro-growth. Instead it's an admission that the costs of a regulation just can't be justified.
I've heard time and again from small business owners in Ohio that extending bonus depreciation is the single biggest factor in allowing their businesses to grow. Allowing companies to use these tools for capital reinvestment is a common-sense way to encourage job creation.
For small businesses, you need less taxes, less federal spending, and you need less regulation that blocks their growth.
Reduced marginal tax rates on individuals and business fosters growth every time.
We owe it to American taxpayers to make sure that contracts intended for small businesses go to small businesses.
I'd rather see the tax for innovation reduced rather than expanded.
Government can wreck a business by confiscating its money by taxation.
Accelerated depreciation helps companies bring forward capital-intensive investments by reducing payback time. It's not a hand out. Companies still have to pay the tax, but they simply get to defer it.