Associated Builders and Contractors (ABC) today applauded final passage of the Middle Class Tax Relief Act of 2010 (HR 4853), that now heads to the White House for the president's signature:
"Many provisions in this bill, including those to extend lower tax rates to all Americans and establish a path for full repeal of the estate tax, are a good first step to help construction contractors recover from the recession and plan for the future," said Associated Builders and Contractors Vice President of Federal Affairs Geoff Burr.
"ABC supports the investment incentives in the bill, specifically the extension of bonus depreciation and extension of Section 179 expensing," said Burr. "These provisions will spur investment in equipment and encourage investment in a business.
"Family-owned small businesses are the backbone of the economy and give Americans a sense of pride and accomplishment in our country," said Burr. "In the construction industry, they provide valuable jobs and play an integral role in building communities. ABC believes that these family businesses are worth saving now and for future generations."
For highlights of the tax package, click here.