Williams and Meuser Pen Letter to Ways and Means Highlighting Importance of Incentivizing Small Business Innovation
Summary
A release dated June 13, 2023 says Congressman Roger Williams (TX-25), Chairman of the House Committee on Small Business, and Congressman Dan Meuser (PA-09), Chairman of the Small Business Subcommittee on Economic Growth, Tax, and Capital Access, issued statements after penning a letter to the House Committee on Ways and Means. Chairman Williams says Main Street should be incentivized to research and drive innovation and that policymakers should build on successful tax policies like the Tax Cuts and Jobs Act. Rep. Meuser cites a hearing titled “American Ingenuity: Promoting Innovation Through the Tax Code” and says the R&D tax credit and bonus depreciation have begun sunsetting. Meuser hopes full expensing of R&D expenditures and 100% bonus depreciation will be restored.
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“Williams and Meuser Pen Letter to Ways and Means Highlighting Importance of Incentivizing Small Business Innovation.”
Original at smallbusiness.house.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/committee-b15a6c4bedc071a3/
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Williams and Meuser Pen Letter to Ways and Means Highlighting Importance of Incentivizing Small Business Innovation Williams and Meuser Pen Letter to Ways and Means June 13, 2023 Tags: Economic Growth, Tax, and Capital Access WASHINGTON, D.C. – Today, Congressman Roger Williams (TX-25), Chairman of the House Committee on Small Business, and Congressman Dan Meuser (PA-09), Chairman of the Small Business Subcommittee on Economic Growth, Tax, and Capital Access, released the following statements after penning a letter to the House Committee on Ways and Means. “It is vital that our tax code works for our nation’s job creators, not against them,” said Chairman Williams. “In order to compete on the world stage, Main Street should be incentivized to research and drive innovation. We need to build on successful tax policies, like the Tax Cuts and Jobs Act, that will help our small businesses invest in their futures.” “Last week I convened a hearing in the Small Business Subcommittee on Economic Growth, Tax, and Capital Access titled ‘American Ingenuity: Promoting Innovation Through the Tax Code.’ It was evident from what we heard during the hearing that two provisions of the tax code that have already begun sunsetting, the R&D tax credit and bonus depreciation, are incredibly important incentives that enable small businesses to reinvest in their company and their employees,” said Rep. Meuser. “I thank Chairman Williams for his support in highlighting this critical issue and also thank our witnesses, Julie Masser-Ballay and Bill Wydra, both Pennsylvania small business owners from my district, for sharing their insight on this very important topic. It is my hope that full expensing of the R&D expenditures and 100% bonus depreciation will both be restored as the Ways and Means Committee considers tax legislation in the coming days, allowing small businesses to continue making investments in their businesses that benefit their workers and our overall economy.” Read the full letter here. Related News Subcommittee on Economic Growth, Tax, and Capital Access Holds Hearing Highlighting the Importance of Robust American Research and Development June 6, 2023 | Posted in Press Releases
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