Karen Kerrigan THE HILL
Support Policies that Promote Job Creation
November 26, 2013
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  • The Hill’s Nov. 8 article “ ‘Here we go again,’ says K Street as Democrats renew push for tax hikes” unfortunately missed some crucial points when referring to the bonus depreciation schedule for the purchase of a new business aircraft.

    First, the depreciation schedule for the purchase of a business aircraft is not a “loophole” of any kind; it has been on the books for decades, and reflects the long-standing policy that business assets depreciate, which applies to a whole host of other business tools, from farm tractors to laptop computers. Second, depreciation works as intended, by incentivizing businesses to purchase or update assets. That helps keep entrepreneurs and businesses competitive, while also bolstering the market for the product manufacturers, and the jobs they produce.

    Perhaps most importantly, singling out the companies that manufacture or use a small airplane for business would harm an essential American industry that supports 1.2 million jobs, generates $150 billion in economic activity each year and connects small American towns to the global marketplace. Given our still-recovering economy, we should support policies that promote job creation, economic investment and growth opportunities in our towns and communities.

    From Karen Kerrigan, president & CEO, Small Business & Entrepreneurship Council, Vienna, Va.

    http://thehill.com/opinion/letters/191409-a-bipartisan-rallying-cry