September 27, 2017
GOP Tax Reform Framework Embraces Cost Recovery To Promote Domestic Investment and Create Jobs
Kevin Dempsey, Senior Vice President for Public Policy at the American Iron and Steel Institute and spokesman for the CRANE Coalition, issued the following statement about today’s announcement of a new tax reform framework by the Trump Administration and House and Senate Republicans:
“This new framework makes important progress toward long-overdue tax reform and embraces rapid cost recovery as a necessary tool to meet the common goals of more domestic investment, greater economic growth and new jobs.
“By preserving accelerated depreciation and extending 100% bonus depreciation for at least five years, this framework signals a clear desire to keep the cost of capital lower to support greater investment at home and the jobs that will come with it.
“Economic growth and job creation are bipartisan goals and we plan to work with members of both parties in Congress, and the Trump Administration, to get a pro-growth tax reform bill that includes rapid cost recovery signed into law.”
The Cost Recovery Advances the Nation’s Economy (CRANE) Coalition is made up of American companies and associations focused on preserving accelerated depreciation to provide the capital needed to continue driving America’s economic growth and job creation here at home.