[Congressional Record (Bound Edition), Volume 155 (2009), Part 13]
[Extensions of Remarks]
[Page 17486]
[From the U.S. Government Publishing Office, www.gpo.gov]




               INTRODUCING THE SMALL BUSINESS GROWTH ACT

                                 ______
                                 

                           HON. BETSY MARKEY

                              of colorado

                    in the house of representatives

                         Friday, July 10, 2009

  Ms. MARKEY of Colorado. Madam Speaker, today I introduced The Small 
Business Growth Act along with Representatives Blaine Luetkemeyer, Alan 
Grayson, Ron Paul, Ginny Brown-Waite, Vern Buchanan, Bobby Bright, and 
Ann Kirkpatrick. I thank them for their support.
  As we all know small business is the economic backbone of America; 
small businesses provide nearly 70 million workers employment and 80 
percent of all new jobs in America. Small businesses are struggling in 
these tough economic times. We must do more to help small business 
which will turn our economy around.
  Under Section 179 of the Internal Revenue Code small business can 
expense machinery, equipment and furniture but not ``real property''--
new structures (buildings), renovations and structural components; this 
legislation corrects this matter.
  The Small Business Growth Act is targeted to small businesses which 
have gross receipts of less than $5 million for the past three years. 
The legislation makes permanent a tax deduction for capital 
improvements that small businesses make to their facilities allowing 
them to take up to $125,000. An immediate tax deduction, rather than 
depreciation, will help small businesses to put money towards expanding 
their facility, purchasing a new piece of equipment, or hiring another 
worker--all of which creates jobs and stimulates our economy.
  I urge all members to support The Small Business Growth Act.

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