AMT-The Association For Manufacturing Technology reports it is pleased with President Obama’s proposed efforts to spur new job creation, in particular manufacturing jobs, and called on the U.S. Congress to respond appropriately.
“Several of the outlined proposals are initiatives that AMT has been strongly advocating,” announced AMT President Douglas K. Woods. “They are steps that can clearly help spur capital investments, which is sorely needed at the moment.”
Woods identified two of the President’s provisions as being especially important to the U.S. manufacturing technology sector. First, a one-year extension of enhanced Section 179 expensing for small businesses. This allows small businesses to expense up to $250,000 of qualified equipment and other business investments immediately.
Second, a one-year extension of the 50-percent bonus depreciation incentive for new capital equipment purchases. This also allows businesses to immediately depreciate fully 50 percent of the costs of capital expenditures.
Both provisions were enacted by Congress in the 2008 stimulus bill, and extended through 2009 by the American Recovery and Reinvestment Act (the $787-billion stimulus enacted in February 2009.)
The President’s proposals would extend these provisions through 2010, which AMT has urged.
Woods said it is “gratifying to see the President addressing some of the key issues AMT has been aggressively advocating for this past year.”
