NATA, GAMA Urge Senate Action On Bonus Depreciation

NATA and GAMA joined 17 other business organizations appealing to key lawmakers to support extended bonus depreciation as the Senate Finance Committee prepares to consider a comprehensive tax extender package. The committee could take action next week on a package to extend numerous short-term tax incentives, NATA believes.

The action apparently is designed to provide certainty about the fate of the tax incentives while lawmakers hash out more comprehensive tax reform. Bonus depreciation has been included in past tax extender packages, and several bills have been introduced in the House and Senate seeking either to make permanent or to extend the 50-percent additional depreciation incentive for the purchase of most capital equipment, including business aircraft. 

In a letter to Senate Finance Committee members, NATA, GAMA and the other organizations urged swift action, saying, “As our economy continues to recover, continued uncertainty about bonus depreciation is discouraging investment in the U.S. and, in some cases, keeping companies on the sidelines.” The organizations earlier had sent a similar letter to members of the House Ways and Means Committee.