Congressman Broun Cosponsors the “Economic Growth Act of 2008”

Washington D.C.- Congressman Paul Broun today cosponsored the “Economic Growth Act of 2008.” This legislation is offered in response to concerns that current economic policies are not sufficiently tailored to meet the needs of America’s economy. The bill introduced today is specifically designed to stimulate the economy by freeing up resources small business can use for job creation. “Frankly, I don’t think that sending a check for $500 to every family is going to stimulate the economy,” said Broun. “We’ve got to focus on creating jobs. A real stimulus plan has to be geared towards small businesses. Small business is the economic engine of our country. We have to enact policies, such as those contained within the ‘Economic Growth Act of 2008,’ that encourage small businesses to expand.” Broun: “We have to enact policies that stimulate small businesses.” The “Economic Growth Act of 2008” contains the following provisions: · Full, Immediate Expensing. The bill would allow all businesses to immediately expense—or fully deduct on their tax returns—the costs of assets (including buildings) they purchase for their business in the year that they buy such assets (“Section 179” expensing). Under current law, businesses can only take limited deductions in pieces, over several years. By uncapping and accelerating the expensing, this provision would encourage the purchase of assets with which to grow a business. · Significant Reduction in the Top Corporate Tax Rate. The bill would immediately cut the top corporate income tax rate from 35% to 25%, aligning it with the average rate in the European Union. By allowing businesses to keep more of the money they earn, this provision would encourage the expansion of businesses, the hiring of more workers, and an acceleration of investment, while making American companies more competitive internationally.

[mikdan]

To bad I wrote the Congressman and forget it folk's he want write you back.