Thursday, April 17, 2014

Home News U.S. senators push tax break for business purchases

U.S. senators push tax break for business purchases

Business Management

Senators say the legislation will help small businesses, a sector that has been struggling in the slow economic recovery.

| June 22, 2010

WASHINGTON  - Two key U.S. senators introduced a bill on Monday that would provide businesses with a bigger tax break for machinery and equipment purchases, a move they hope will help boost economic growth and create jobs.

Senate Finance Committee Chairman Max Baucus, a Democrat, and Sen. Charles Grassley, the top Republican on the panel, introduced the legislation saying it will help small businesses, a sector that has been struggling in the slow economic recovery.

"This tax cut provides a double benefit by creating an opportunity for small businesses to purchase new equipment while also helping the companies that manufacture and sell equipment to small businesses," Baucus says.

The bill would extend through 2010 provisions that expired at the end of 2009 that allowed businesses to more quickly write off on their taxes the purchase of new equipment and machinery.

The proposal is likely to be made a part of a package of small business lending proposals and tax breaks that lawmakers hope will help create jobs and reduce the 9.7 percent unemployment rate.

Please visit Reuters to read the rest of this article.

Top news

Dealing with drought

L&L talked with landscapers throughout the state to see how they’re faring with the conditions.

John Deere Landscapes makes an acquisition

Eljay Irrigation in Canada will integrate immediately with JDL.

Davey names new President of U.S. Operations

Patrick Covey has been with the company for 20 years.

Affected by the elements

After drastic weather in 2013, LCOs need to keep a close eye on pests this spring.

Learn to control aquatic weeds

A free webinar will teach LCOs how to fight weeds in the water.