Peters Casts Independent Vote to Support Michigan Businesses

Press Release

Today, U.S. Representative Gary Peters (MI-14) broke with his party to cast a bipartisan and independent vote for H.R. 4718, which will help spur businesses to make new investments in the United States to create jobs and strengthen the economy. Rep. Peters is the only Democratic cosponsor of the legislation, which passed the House 258-160.

"As our economy continues to recover, we need to ensure that businesses in Michigan and across the country can plan for the future," said Rep. Peters. "This commonsense measure will give Michigan businesses ranging from manufacturers and utilities to agricultural producers the ability to make critical investments to grow their businesses, create new jobs and help strengthen our economy and the middle class."

The legislation permanently extends bonus depreciation and renews the Alternative Minimum Tax (AMT) Credit in lieu of 50 percent depreciation provisions. These commonsense policies will help businesses plan ahead and make much needed capital investments that create new jobs and support economic growth.

Rep. Peters is an outspoken champion for Michigan's auto industry, manufacturing, workers and small businesses. He is co-chair of the bipartisan Congressional Auto Caucus and co-chair of the Congressional Caucus on Innovation and Entrepreneurship. He has helped create two successful small business programs, the State Small Business Credit Initiative (SSBCI) and the Small Business Lending Fund (SBLF), which have been credited with helping to leverage millions in private investment, spurring small business growth and creating thousands of jobs in Michigan. He also recently supported a measure to strengthen the U.S. research and development tax credit to encourage economic growth by helping small businesses make investments and new hires.

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