Congress Builds Tax Incentives Time Machine, Needs to Focus on Future

Daniel Fisher, vice president of legislative affairs for the Aeronautical Repair Station Association (ARSA), issued the following statement regarding Congress’ passage of the Tax Increase Prevention Act (H.R. 5771). The legislation reinstates for the 2014 tax year a number of provisions that expired at the end of 2013, including 50 percent bonus depreciation and higher Sec. 179 expensing levels ($500,000 with a $2 million phase-out cap).

“ARSA appreciates Congress reinstating these important capital investment incentives for 2014, but retroactively incentivizing past behavior through the tax code should be the exception, not the norm. The association looks forward to working with the 114th Congress to restore long-term certainty and simplification to the tax code and pursue pro-growth tax policies to encourage job creation, economic growth, business risk-taking and investment.”