NFIB Makes Goal Line Push for Permanent 179 Extension

Date: December 09, 2015

Washington, DC (December 9, 2015) – With reports flying that Congress
may be close to a long-term deal on tax extenders, the National Federation of Independent Business (NFIB) is making a
final push to get one of its top legislative priorities over the goal line.

The
organization is urging its members in every state to contact their
representatives in Washington to let them know that another temporary extension
of Section 179, which provides a tax benefit for small businesses that invest
in their own growth, won’t be acceptable this time.  NFIB, which represents hundreds of thousands
of small businesses across the country, has been the leader among business
groups fighting for a permanent extension.

NFIB President and CEO Dan Danner made certain today that House and
Senate leaders who are negotiating a package understand the stakes for small
business.

“The
window for making big investments this year has already closed for many small
businesses.  Another temporary extension
will force the rest of them to scramble to make their investments before the
end of the month and then the waiting game will start all over again,” said
Danner.  “Congressional leaders have to
know that small businesses can’t operate this way.  They need predictability so they can plan their
growth, take risks and create jobs.”

NFIB Research Director Holly Wade, reminded Congress that according to
the most recent data small businesses are losing
confidence in the economy.  She pointed
to NFIB research from earlier this year predicting that a permanent small
business expensing would
create 197,000 new jobs and increase the country’s economic
output by nearly $19 billion.

“The
small business sector hasn’t really participated in the recovery.  A big part of the reason has been economic
uncertainty,” said Wade.  “Small
businesses want to invest in themselves but many can’t make long-term financial
commitments unless they know the cost. 
Making 179 permanent will release the pent up demand for capital
upgrades and that will ripple through the economy.”

Sherry Wuebben, a small business owner from
Wisconsin and a member of the NFIB
National Board of Directors
, sells farm equipment.  As she sees it, a permanent extension of
Section 179 is vital for her customers, most of whom are other small businesses
that need to keep up with rapidly changing technologies.

“Heavy
machinery for farming or any other industry is increasingly sophisticated in
terms of the technology and that’s terribly important for small businesses
because it allows them to operate more efficiently,” said Wuebben.  “That’s the only way they can compete against
larger businesses in a global economy.  Small
businesses need to make these investments as the technology improves and
expensing makes that easier.  If Congress
wants American small businesses to be competitive over the long term, they’ll
make Section 179 permanent.

For
more information about NFIB, please visit www.nfib.com/expensing.

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