First Posted: 2/17/2015
WASHINGTON — Small businesses may have extra assurance when it comes to expanding thanks to a bill that passed through the U.S. House of Representatives on Tuesday.
U.S. Rep. Bob Latta, R-Bowling Green, was one of the representatives who voted to pass H.R. 636, America’s Small Business Tax Relief Act, according to a release from his office.
“As we move toward comprehensive tax reform, we should also take sensible steps to make permanent tax provisions that will provide stability and predictability for hardworking Americans,” Latta said in a statement. “America’s Small Business Tax Relief Act will help provide the certainty our small businesses and family farms need to invest in their businesses, grow their operations and hire more workers.”
The legislation would “permanently extend and modify a temporary provision” allowing businesses to expense up to $500,000 in property used in a trade or business, according to the release, providing small businesses and family farms the “certainty they need to grow.”
