Tax Extenders Continue to be Negotiated
The House and Senate continue to negotiate on tax extenders. A PHCC-supported measure would permanently extend the Section 179 expensing allowances at the expanded levels that were in place from 2010 to 2014. The elevated expensing limits in past years help businesses to use greater investments that have allowed them to hire more workers, improve efficiencies, and expand their businesses. This legislation also removes the uncertainty caused by repeated short-term extensions by making these changes permanent.
Discussions of significant benefit are also underway by striking the exemption of air conditioning or heating equipment from the qualified investments eligible for Section 179 expensing. This small modification creates energy savings opportunities for small businesses and commercial building owners across the nation. PHCC works closely with the National Federation of Independent Business (NFIB) as well as a large coalition in Washington, D.C., to advocate for permanent extension of Section 179.
Look for a PHCC Legislative Alert on this important issue soon!