U.S. Chamber Praises High Productivity Investment Act

WASHINGTON, D.C. – The United States Chamber of Commerce today announced its enthusiastic and strong support for the High Productivity Investment Act, a bipartisan measure that would substantially modernize the cost recovery system for business equipment. Introduced by Representatives Phil English (R-PA) and Richard Neal (D-MA), this bill would permit the expensing of new technology equipment and shorten recovery periods for all other equipment.

"Simply stated, the cost recovery system is outdated and is in real need of reform," stated Dr. Martin Regalia, the Chamber's Chief Economist and Vice President of Economic and Tax Policy. "It discourages investment in business assets and retards economic growth. The High Productivity Investment Act will encourage investment in business equipment, which will increase worker productivity and lead to greater economic output. In today's high tech economy, where innovation can quickly make existing equipment obsolete, it is imperative to have a cost recovery system that can handle such speed," said Regalia.

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.

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