NFIB Hails U.S. House Vote to Extend Small-Business Tax Cuts
The National Federation of Independent Business (NFIB), the nation's largest small-business advocacy group, today praised passage of tax-cut legislation in the U.S. House of Representatives containing badly needed provisions for the nation's small firms. According to a press release from the NFIB, the bill, H.R. 4297, the Tax Relief Extension Reconciliation Act of 2005, was a "key vote" for NFIB members and passed the House 234-197.
"The pro-small-business tax cuts of 2003 put money back into the hands of small-business owners to hire new employees and have put money directly into the economy as owners have purchased new equipment and grown their businesses," said NFIB Executive Vice President Dan Danner. "That's why the vote to extend these pro-growth tax cuts was so vital. With two-thirds of all new jobs being created by small business, Congress must do everything possible to help small-business owners succeed, and maintaining the current levels for Section 179 expensing and faster depreciation schedules will help keep the nation's economy strong."
To read this press release in full, click here.
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