Congressman Leonard Lance (NJ-07) issued the following statement after the U.S. House of Representatives passed H.R. 4718, legislation that makes permanent a tax provision allowing companies to deduct half the cost of new business investments:
"A permanent bonus depreciation deduction for businesses will encourage investment that will lead to more good-paying jobs," said Lance. "That's why enactment of H.R. 4718 is supported by associations representing a variety of industries -- farmers, telecommunications, manufacturers, life sciences, energy, construction, retailers and technology. I urge the U.S. Senate to act and give small businesses the added certainty to further invest in their companies, thereby boosting the U.S. economy and job creation right now."
Earlier this week, the House of Representatives passed a bipartisan job training and workforce development bill that will reform and improve our Nation's outdated workforce training programs so New Jersey's job seekers can obtain the skills they need to go back to work.
"This week we have passed, in a bipartisan capacity, two more bills that would encourage businesses to invest and to create jobs here at home. The House of Representatives continues to make job creation its top legislative priority," concluded the 7th District lawmaker.