Rep. Kevin Brady (R-TX), chairman of the congressional Joint Economic Committee, said that, “according to a new Joint Economic Committee Staff Analysis making bonus depreciation permanent would be a major force in helping to spur rapid job growth in the private sector.”
“Making bonus depreciation permanent,” the leading recommendation in the analysis, Brady said, “will ignite business investment in equipment, help to narrow the ‘Growth Gap’ and create hundreds of thousands of new private-sector jobs.”
“The analysis notes that a permanent extension would reduce the cost of capital and increase the capital stock. This would have long-term positive effects on investment, employment, and economic growth.”
A copy of the analysis entitled “Bonus Depreciation—Closing the Growth Gap” is attached and can be accessed on the Joint Economic Committee Republicans website at this link.
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