Washington, DC, July 21, 2015 – Today the Senate Finance Committee approved a bipartisan package of tax extenders that includes a two-year extension of 50 percent bonus depreciation to qualified property purchased and placed in service before December 31, 2016. The proposal also increases the maximum amount and phase-out threshold in 2015 and 2016 for Section 179 expensing to the levels in effect in 2010 through 2014 of $500,000 and $2 million respectively. A coalition of leading trade associations, including NATA, the U.S. Chamber, and the National Association of Manufacturers recentlywrote the Finance Committee requesting such action.
The following is a statement by National Air Transportation Association President and CEO Thomas L. Hendricks:
"NATA appreciates the leadership of Chairman Orrin Hatch (R-UT), Ranking Member Ron Wyden (D-OR), and the other members of the Finance Committee for developing and approving this legislation. We strongly agree with Senators Hatch and Wyden that it is important the Congress act quickly to put these job creating provisions to work as soon as possible. Two-year extensions of bonus depreciation and Section 179 expensing encourage NATA member companies to make additional, immediate investments in the U.S. economy. We ask the full Senate to act on this package as quickly as possible and look forward to our continued work with the Committee as it looks at comprehensive tax reform.”
