Press Release

Friday, July 11, 2014

Price Votes to Spur Business Investment, Job Creation

WASHINGTON, D.C. – Congressman Tom Price, M.D. (GA-06), vice chairman of the House Budget Committee and a member of the House Ways and Means Committee, issued the following statement after the House of Representatives passed legislation to make permanent a provision in the tax code allowing businesses to claim a “bonus depreciation” deduction of 50 percent of the value of qualified property. This provision in the tax code expired in 2013 but had previously been temporarily extended on multiple occasions.

“Short of a larger more fundamental reform of the entire tax code, few tax policies will likely have as positive an impact on economic growth and job creation than a permanent bonus depreciation deduction for businesses,” said Rep. Price. “This policy encourages American businesses to invest in their enterprises, grow them and as a consequence create more jobs. It also expands the customer market for those who manufacture and sell the goods that businesses need to improve their prospects for future development. Again, opening up opportunities for further growth in the manufacturing sector and the good paying jobs that come with it. Unlike other policies that might be aimed at one sector of the economy or another, this is a solution that doesn’t have Washington picking winners or losers.

“Yesterday the House of Representatives passed a job training and workforce development reform bill to help give more Americans the knowledge and tools they need to break into the job market and find employment opportunities. Today, we passed a bill that will encourage entrepreneurs to create more of those good paying jobs.”

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