NATA Statement on Senate Passage of Bonus Depreciation/Section 179 Legislation
Alexandria, VA, December 16, 2014 – On December 16th, the Senate approved H.R. 5771, the “Tax Increase Prevention Act of 2014.” The legislation extends for one year, retroactive to January 1st, over 50 tax provisions including accelerated (bonus) depreciation and section 179 expensing. The following is a statement by National Air Transportation Association President and CEO Thomas L. Hendricks on Senate approval:
"NATA thanks the Senate for extending bonus depreciation and section 179 expensing for 2014. Provisions like these make a difference. Recently, a member company related to me how bonus depreciation resulted in the purchase of aircraft which in turn led to the hiring of additional pilots and support staff.
We greatly appreciate the efforts that were made by Majority Leader Reid, Minority Leader McConnell, Finance Committee Chairman and Ranking Members Wyden and Hatch to extend these investment and job creating provisions on a longer basis. We look forward to working with Congress next year to extend the time period for these provisions in order to achieve the maximum impact they bring to investment and job creation.”
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NATA, the voice of aviation business, is the public policy group representing the interests of aviation businesses before Congress and the federal agencies. For more information about NATA, please visit www.nata.aero, www.twitter.com/nataaero or www.facebook.com/nataaero.