AEM Praises Economic Stimulus Package
January 28, 2008 • The Association of Equipment Manufacturers (AEM) has released a statement applauding the quick action on the economic stimulus package. The package will help the overall economy by helping equipment manufacturers stay productive and keep providing jobs.
The proposal contains two provisions of particular importance to AEM member companies. The bonus depreciation change allows businesses to deduct 50 percent of the cost of new equipment the year it is placed in service. The Section 179 expensing limits increase will allow small- and medium-sized businesses to fully expense new equipment up to $250,000 as soon as it is purchased. Both provisions will reduce the current year cost of new machines and equipment and spur investment in new capital goods.
“AEM applauds the quick work of President Bush and leaders in Congress to prepare this important legislation,” said AEM President Dennis Slater. “We now urge the Senate and House to quickly pass the proposal so the economy can begin to reap the benefits.”
AEM is the North American-based international trade group serving the off-road equipment manufacturing industry which includes agriculture, construction, forestry, mining and utility equipment.
The proposal contains two provisions of particular importance to AEM member companies. The bonus depreciation change allows businesses to deduct 50 percent of the cost of new equipment the year it is placed in service. The Section 179 expensing limits increase will allow small- and medium-sized businesses to fully expense new equipment up to $250,000 as soon as it is purchased. Both provisions will reduce the current year cost of new machines and equipment and spur investment in new capital goods.
“AEM applauds the quick work of President Bush and leaders in Congress to prepare this important legislation,” said AEM President Dennis Slater. “We now urge the Senate and House to quickly pass the proposal so the economy can begin to reap the benefits.”
AEM is the North American-based international trade group serving the off-road equipment manufacturing industry which includes agriculture, construction, forestry, mining and utility equipment.
