CTIA backs HR-4718, which would make bonus depreciation...
CTIA backs HR-4718, which would make bonus depreciation permanent and will soon be under consideration on the House floor, CEO Meredith Baker wrote in a letter Wednesday to House leadership (http://bit.ly/1rbLfHt). The bonus depreciation provision of the American Taxpayer Relief…
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Act expired in December, and telecom and media industry groups have backed its reinstatement. Baker cited the “capital intensive” nature of the wireless industry and said passing the bill would help expansion of wireless broadband networks and increase innovation. The White House strongly opposes this bill, the Office of Management and Budget said Thursday. “This provision was enacted in 2009 to provide short-term stimulus to the economy, and it was never intended to be a permanent corporate giveaway,” it said. It said HR-4718 “includes no offsets and would add $287 billion to the deficit over the next 10 years, wiping out more than one third of the deficit reduction achieved by the American Taxpayer Relief Act of 2013.”