Berks County News

WASHINGTON, D.C. – On June 13, Congressman Dan Meuser, Chairman of the Small Business Subcommittee on Economic Growth, Tax, and Capital Access, and Congressman Roger Williams (TX-25), Chairman of the House Committee on Small Business, released the following statements after penning a letter to the House Committee on Ways and Means.

“Last week I convened a hearing in the Small Business Subcommittee on Economic Growth, Tax, and Capital Access titled ‘American Ingenuity: Promoting Innovation Through the Tax Code.’ It was evident from what we heard during the hearing that two provisions of the tax code that have already begun sunsetting, the R&D tax credit and bonus depreciation, are incredibly important incentives that enable small businesses to reinvest in their company and their employees,”said Rep. Meuser.“I thank Chairman Williams for his support in highlighting this critical issue and also thank our witnesses, Julie Masser-Ballay and Bill Wydra, both Pennsylvania small business owners from my district, for sharing their insight on this very important topic. It is my hope that full expensing of the R&D expenditures and 100% bonus depreciation will both be restored as the Ways and Means Committee considers tax legislation in the coming days, allowing small businesses to continue making investments in their businesses that benefit their workers and our overall economy.”

“It is vital that our tax code works for our nation’s job creators, not against them,” said Chairman Williams. “In order to compete on the world stage, Main Street should be incentivized to research and drive innovation. We need to build on successful tax policies, like the Tax Cuts and Jobs Act, that will help our small businesses invest in their futures.”

Read the full letter here.

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Original source can be found here.