Chamber Members and President Bush Discuss Growth from Stimulus Plan at White House

WASHINGTON, D.C. - President George W. Bush met with members of the U.S. Chamber of Commerce at the White House today to discuss the benefits of the Chamber-backed Economic Stimulus Act of 2008 for small and mid-size businesses.

"The Chamber supported the President's economic stimulus package because we recognized it not only offered immediate incentives to businesses but will also translate into long term economic growth," said the Chamber's President and CEO Tom Donohue. "Today's anecdotes from these small business owners to the President offered evidence that action in Washington can translate into positive results for American businesses and workers. We appreciate that the President took time to listen to these Chamber members who, with millions of other small business owners, make up the life blood of the American economy."

The business leaders pointed to the Act's tax incentives for companies to purchase new equipment, thereby improving productivity, efficiency, and capacity. The economic stimulus package increases the Section 179 expensing limit to $250,000 and provides for 50 percent bonus depreciation in 2008.

"Being a manufacturer, the plan's tax incentives made purchasing new equipment a 'no-brainer'," said Ryan Robinson, president and co-owner of Signal Metal Industries in Irving, TX. "Not only do we get the tax savings, but just as importantly, we also get the benefits of more production from better, more reliable equipment which absolutely helps us compete with manufacturers in Mexico, China, and India."

"There's no doubt that this plan will jumpstart our spending on capital equipment and expand our services," said Raymond Pinard, president and CEO of 48HourPrint.com in Boston, MA. "We've already placed deposits on new printing presses and soon will be adding a line of digital equipment, allowing us to move into entirely new markets."

"Due to the stimulus package we are starting the negotiations to purchase an additional mill that will allow us to expanded capacity and help meet customer demand," said Darlene Miller, president and CEO of Permac Industries in Burnsville, MN. "As customers demand faster, less expensive manufacturing - and with tighter profit margins due to increased competition - purchasing new technology is essential to our survival."

"Recently we purchased two new servers and routers, and we plan to upgrade nearly 30 office computers thanks to the Act's expensing benefits," said Thomas Sawner, CEO of Educational Options in Arlington, VA. "As EdOptions prepares to expand and move to new offices this quarter, this incentive is a big boost to our purchasing power for needed equipment."

More information on the Economic Stimulus Act of 2008 and these U.S. Chamber members is available at:
www.uschamber.com/stimulus
Photos from the White House meeting will be available at:
www.uschamber.com/press/photos

The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.

www.uschamber.com

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