Washington, DC, February 13, 2015 – Today the House approved legislation, H.R. 636, America’s Small Business Tax Relief Act of 2015, to retroactively and permanently increase the amount of investment that small businesses can immediately deduct. The legislation would permanently extend to $500,000 (indexed for inflation) the annual cost of property eligible for expensing under section 179 of the tax code. The following statement can be attributed to National Air Transportation Association President and CEO Thomas L. Hendricks on House approval:
“Small companies represent the core of aviation businesses and the legislation approved by the House today will encourage these companies to make capital investments and create jobs – benefits that extend into their communities. NATA deeply appreciates the tireless efforts of the legislation’s author, Representative Pat Tiberi (R-OH) as well as Ways and Means Committee Chairman Paul Ryan’s (R-WI) efforts in placing this important legislation at the very top of the committee’s agenda for this year. As we saw in the recent study of the economic contributions of general aviation to the U.S. economy, general aviation generates over $69 billion annually in wages and salaries, a number that would increase with the enactment of proactive tax policies like these.”