[Congressional Record (Bound Edition), Volume 149 (2003), Part 8]
[House]
[Page 11018]
[From the U.S. Government Publishing Office, www.gpo.gov]




                   NEW TAX BILL IS FOR CREATING JOBS

  (Mr. BALLENGER asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. BALLENGER. Mr. Speaker, North Carolina unemployment is as bad as 
it is anywhere. Broyhill Industries just announced it is laying off 500 
people from their furniture factory.
  My little company has been operating wide open in North Carolina, 
lots of overtime, and that does not cost anything in additional 
expenditures and investment, but it reduces our efficiency.
  The jobs part of the tax bill increasing depreciation writeoffs make 
it sensible to buy machinery and to cut down on overtime by creating 
four new jobs by investing $170,000. We would not do this if it were 
not a plus in the tax bill. The jobs will be created in the same county 
where Broyhill laid off 500 people.
  Mr. Speaker, I think people who have never been involved in employing 
people and working together do not recognize what an advantage this new 
tax bill is for creating jobs.

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