Representing North Carolina’s Ninth District                                                                        

Myrick VOTES TO EXTEND TAX BREAKS FOR SMALL BUSINESSES

(Washington, D.C.) – The House voted Wednesday, July 21, 2004, to extend the $100,000 deduction for equipment purchases and other capital investment by small businesses through 2007.  Without this action, the deduction would have reverted to $25,000 at the end of 2005.

 The bill titled “Tax Simplification for America's Job Creators Act of 2004,” helps small businesses plan investments.  It also gives incentive to expand small business operations. 

 Rep. Myrick, who voted for the bill, said the bill “simplifies taxes for small businesses and delivers meaningful tax relief so that business can expand and hire more workers.”

 The bill passed the House on a vote of 424-0.  The bill must now be passed by the Senate before the President can sign it into law.

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