AMAC is proud to announce support for a pro-small business bill that was passed by the House of Representatives on Thursday, June 12th. H.R. 4457, the “America’s Small Business Tax Relief Act of 2014,” was introduced by Representative Pat Tiberi (R-OH) and makes permanent the small business expensing outlined in Section 179 of the U.S. tax code. This bill will establish stability for small businesses so that they can further grow and expand. Giving businesses the ability to deduct the cost of new equipment and property immediately will encourage continued investment in the business and will give business owners the predictability they need when it comes to tax planning and setting long-term financial goals. As a steadfast proponent of small business, AMAC believes that H.R. 4457 will help the U.S. economy grow and create job opportunities. In fact, this important bill stands to help the many mature Americans and seniors who remain active in the workforce or own their own small businesses. AMAC is pleased to see that the House has supported H.R. 4457, and we now urge the Senate to adopt this significant bill on behalf of America’s small businesses.
June 12th, 2014
The Honorable Pat Tiberi
12th District, Ohio
U.S. House of Representatives
106 Cannon House Office Building
Washington, DC 20515
Dear Representative Tiberi,
On behalf of the 1.2 million members of AMAC, the Association of Mature American Citizens, I am writing to offer support to H.R.4457, the “America’s Small Business Tax Relief Act of 2014.” This important piece of legislation will prove highly beneficial for small businesses across the country by making permanent the small business expensing outlined in Section 179 of the U.S. tax code.
H.R. 4457 acts to establish stability for small businesses in a way that will ultimately contribute to further business growth and expansion. For small business owners, the permanent adjustments made to Section 179 of the tax code will provide necessary predictability for employers when it comes to tax planning each year and to setting long-term financial goals. Giving businesses the ability to immediately deduct the cost of new equipment and property will also prevent investments from depreciating over time and will encourage owners to reinvest in their businesses.
Clearly, this bill will have a number of positive impacts on the American economy, which remains sluggish. At a time when an economic boost is desperately needed, H.R. 4457 promises to help small businesses spark innovation and create new job opportunities. Additionally, given that individuals between the ages of 55 and 64 comprise the largest percentage of new business owners in America, H.R. 4457 will largely benefit mature Americans and seniors who remain active in the workforce or have started new businesses during their retirement.
Like many Americans, AMAC strongly believes that small businesses form the backbone of the U.S. economy and play a pivotal role in its overall health and strength. Thanks to your attention for this significant issue and your steadfast commitment to small businesses, AMAC is proud to support the H.R. 4457, the “America’s Small Business Tax Relief Act of 2014.”
President and Founder of AMAC