Rehberg Supports Measure to Boost Jobs Through Small Business Investment

Press Release

Montana's Congressman, Denny Rehberg, is leading an effort to help create jobs by sponsoring a bill that allows businesses to more accurately reflect the depreciation values of their property. Rehberg is sponsoring H.R. 1265, a bipartisan measure that permanently extends the 15-year depreciation period for leasehold improvements, restaurant improvements, and new construction.

"Small business is the engine that drives Montana's economy, and we need to make sure the federal government's tax policies are both fair and smart, and don't stand in the way of growth or prosperity," said Rehberg. "This legislation will help provide some certainty for small businesses that are possibly looking to expand and create jobs, and for others that are seeking a more accurate reflection of the tax value of their property investments, which ultimately helps their bottom line."

Under previous tax laws, the depreciation period for commercial buildings and improvements was an extended 39 years. Over time, Congress had modified the depreciation schedule for certain types of property, however, the current 15-year depreciation schedule for leasehold and restaurant improvements, and new construction is set to expire at the end of the year. Business and industry leaders believe the bill to permanently set the depreciation period at 15 years will encourage business investment and spur job growth.

The bill is supported by the Associated Builders and Contractors, Building Owners and Managers Association, Burger King, Kentucky Fried Chicken Franchisees, Dunkin' Brands, International Council of Shopping Centers, Pizza Hut Franchisees, Nation Federation of Independent Business (NFIB), National Restaurant Association, National Retail Federation, Retail Industry Leaders Association, the Real Estate Roundtable, Taco Bell Franchisees, Wendy's/Arby's Group and other organizations.

"Montana's retailers and restaurateurs really appreciate Denny's sponsorship of this important legislation," said Brad Griffin, President of the Montana Retail Association and the Montana Restaurant Association. "Retailers and restaurateurs have been operating with year-to-year extensions of the 15 year depreciation and this brings much needed certainty to the market by making it permanent. This will be a real shot in the arm for Montana's small businesses."

Source