Congressman Gibbs, AFBF, and NFIB Support Small Business Tax Relief Act
Washington, D.C.— Congressman Gibbs released the following statement on H.R. 636, Small Business Tax Relief Act. This bill affects all industries and the American Farm Bureau Federation and the National Federation of Independent Business were pleased to see this bill voted out of the House.
Congressman Bob Gibbs OH-7:
“Today, the House passed America’s Small Business Tax Relief Act to give small businesses and farmers the certainty they need to innovate, expand, and hire. This bill is a step toward fixing our broken tax code and supporting small businesses and rural communities. I believe commonsense legislation like H.R. 636 will help put our country on the right path and help get Americans back to work”
Bob Stallman, President, AFBF:
“Farmers and ranchers rise each day to face all types of uncertainty, but there’s no need for the tax code to be as unpredictable as the weather.
“Congress’s habit of extending tax provisions for one or two years at a time isn’t good for business. Not knowing what the tax code will look like from year-to-year leaves farmers and ranchers with their hands tied. Instead, they should be free to put their money back to work, making equipment purchases and improvements to expand their businesses and preserve their land.
“It’s time to permanently set Section 179 small business expensing at a limit of $500,000 to give farmers and ranchers the flexibility they need to reinvest in their businesses and boost their local economies.”
Matt Turkstra, NFIB Manager of Legislative Affairs:
“Small business expensing is a common-sense, bipartisan policy that unfortunately has been extended on an ad-hoc basis. By making this effective tax provision permanent, small businesses can spend more time running their business and less time worrying about the tax code. In addition, reducing the cost of investment for small businesses leads to greater investment – which has a positive ripple effect throughout the entire community.”