Flanked by Congressional leaders of both parties, President Bush this afternoon signed H.R. 5140, the economic stimulus plan, into law. His statement from the White House is here. Speaker Pelosi issued a statement, and Senator Majority Leader Reid also had a statement.
Most of the attention has gone to the individual rebates, but the bill does include some very beneficial incentives for business investment. Our good friends (and NAM members) at Deloitte have put together a one-page fact sheet to explain the provisions. Here’s the summary:
The Economic Stimulus Act of 2008 signed into law by President Bush on February 13, 2008 includes two significant business related tax incentives that may lower your cost of investing in new equipment and spur new orders from customers. Increased expensing limits for small businesses and a 50 percent “bonus” depreciation provision will provide a benefit to businesses of all sizes. In fact, small businesses that qualify for the increased expensing can also take advantage of the bonus depreciation.
For more detail, please click here to read the one-pager.
More at Jan Norman’s blog at the Orange County Register.
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