WASHINGTON, DC – U.S. Congressman Pete Sessions (R-TX), Chairman of the House Rules Committee, today released the following statement regarding House passage of H.R. 4718, To amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation:
“One of my top priorities in Congress is to provide our nation’s job creators with the policies that they need to expand their businesses and create new opportunities for American workers. Bonus depreciation is an important tool in spurring this economic growth, yet its temporary status in the tax code creates needless uncertainty for American companies. Today the House passed legislation to alleviate this burden.
“By making bonus depreciation permanent, American companies can more easily plan for the future and manage their finances. Additionally, by incentivizing the purchase of new equipment, this policy encourages domestic investment, which will in turn increase productivity, create new jobs, and grow the economy. With unemployment at stubbornly-high numbers, and record-low participation in the workforce, Congress should take every action possible to boost private-sector investment and job growth.”