NFIB Members Attend Bill Signing of the Economic Stimulus Package

Small business owners plan to use tax incentives to improve and expand their businesses

WASHINGTON, D.C., February 13, 2008 — Small business owners that plan to take advantage of the tax incentives included in H.R. 5140, The Recovery Rebates and Economic Stimulus for the American People Act of 2008, were in attendance Wednesday as President Bush signed the bill into law.

The small business owners attending the bill signing at the White House are members of the National Federation of Independent Business, the nation’s leading small business association. NFIB worked closely with the White House and members of Congress to ensure that the final stimulus package included key tax provisions to assist small business owners, America’s job creators.

“The stimulus plan will provide a shot in the arm for small business owners across Wisconsin,” said Bill Smith, state director of NFIB/Wisconsin. “Now that the package has been signed into law, small business owners can take advantage of these tax incentives and make plans to invest in their business and create new jobs.”

Key provisions included in the economic stimulus deal:

• One of the most important provisions included in the stimulus package is increasing the dollar amount for small-business expensing limits from $125,000 to $250,000. This will allow small-business owners to immediately write off business purchases and will help small-business owners expand their businesses and hire new employees.

• Another key provision included in the economic stimulus package is the 50 percent bonus depreciation deduction. This proposal provides an additional one-year depreciation deduction value to 50 percent of the value of the property. Bonus depreciation is an incentive for businesses to invest in their business now, providing an immediate deduction for half the cost of the investment.