Arrington Introduces ALIGN Act, Gives Businesses Certainty For Investing in Innovation
Washington, May 13, 2020 | Jessica Weiner
Congressman Jodey Arrington (TX-19) released the following statement after introducing H.R. 6802, the Accelerate Long-term Investment Growth Now (ALIGN) Act, with Rep. Drew Ferguson (GA-3), Rep. Jason Smith (MO-3), Rep. Guy Reschenthaler (PA-14), Rep. Tom Rice (SC-7), Rep. David Schweikert (AZ-6), and Rep. Brad Wenstrup (OH-2) as original cosponsors:
“Full and immediate expensing is one of the most pro-growth policies in the Tax Cuts and Jobs Act. By permanently extending this provision, businesses will have more certainty as they look toward the future and plan for expansion and innovation," said Arrington.
“The current pandemic has wreaked havoc on our nation’s small and large businesses alike, reducing the cost of capital, simplifying the code, and promoting new investment will be critical to an economic rebound at every level.”
"Congressman Jodey Arrington's legislation to make the expensing of new business investment permanent is the most important tax issue before Congress. It would be the most powerful driver of growth, investment and jobs now before Congress,” said Grover Norquist, President of Americans for Tax Reform
"Economic growth is more important during the COVID-19 crisis than ever before. That's why it's so important to make permanent one of the most pro-growth provisions of the Tax Cuts and Jobs Act: full and immediate expensing,” said Jessica Anderson, Executive Director of Heritage Action for America
“Full expensing of new and used equipment is one of the best tax policies to spur job creation and economic growth,”said Whit Perryman, President & CEO of Vermeer Texas-Louisiana, which operates 12 locations across Texas, including in Lubbock. “It helped bring the economy to record levels prior to the COVID-19 pandemic and 100 percent bonus depreciation will be integral to getting the economy going again. On behalf of Vermeer Texas-Louisiana, the equipment industry and the broader business community, we appreciate Rep. Arrington’s leadership in making this pro-growth tax provision a permanent part of the tax code to provide certainty and liquidity for many years to come.”