Long Term Tax Certainty to Help American Families and Businesses
WASHINGTON, DC – Congressman Bob Gibbs released the following statement after passage of the Protecting Americans from Tax Hikes (PATH) Act:
“For years Washington has passed short-term patches to a tax system that caused uncertainty for small business owners and families. Today I am proud to vote for legislation that makes permanent reforms to our tax code, protects Ohio families from tax hikes, and provides certainty for the business community. The PATH Act provides small business with tax relief, creates and maintains incentives through a research and development tax credit, and it reins in the IRS. Additionally, this legislation makes permanent section 179 of the tax code, which helps small businesses with expensing and increases the limit to $500,000.
"This bill is a victory for American families, small business owners, and our economy. A pro-growth tax policy will help create a stronger and more prosperous nation.”