Business Tax Extension Sign-On Letter
October 8, 2009
TO THE MEMBERS OF THE UNITED STATES CONGRESS:
The undersigned companies and trade associations strongly urge Congress to enact legislation that would extend business tax provisions that expire at the end of 2009 as soon as possible. Such an extension will help build momentum for strong economic recovery and job growth.
Although data indicates the economy has begun to emerge from a deep, prolonged recession, a major obstacle to recovery lurks. Thousands of U.S. businesses and individual taxpayers would face major tax increases if these tax provisions expire. An extension would bring more certainty in U.S. tax law, foster more effective business decisions, and encourage investment. Moreover, the Administration asked Congress to extend the tax provisions as part of the President's 2010 budget request.
The expiring provisions that we urge you to extend include the R&D provision; the election to deduct state and local general sales tax; the exception under Subpart F for active financing income; the look-through treatment of payments between related controlled foreign corporations (CFCs) under Subpart F; the 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant improvements, and certain improvements to retail space; the election to expense "brownfield" environmental remediation costs; the biodiesel, renewable diesel, and alternative fuels provisions; and the railroad track maintenance provision.
We strongly support the timely extension of these vital pro-growth tax provisions and look forward to working with you on this issue.
Sincerely,
Associations and businesses, you can sign onto this letter using the form below.
NOTE: Only the name of the company/organization will appear on the letter; the contact name of the person making the authorization will Not be on the letter.
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