PGAMA and PIA Member Urges Congress to Consider Small Business Tax Reform
PITTSBURGH—April 10, 2013—Printing company executive Steve Bearden today urged the House Small Business Committee to embrace a comprehensive tax reform policy that would seek to simplify tax rules in order to reduce the impact of tax costs and complexity on small businesses. Bearden is president and CEO of Linemark, a 27-year-old printing and graphic communications company that employs 92 workers in Upper Marlboro, MD. Also testifying at today’s hearing was House Ways & Means Committee Chairman Dave Camp (R-MI).
Bearden testified alongside other small business owners to discuss how Chairman Camp’s proposed tax policy changes would impact their respective businesses and industries. Specifically, Bearden stated support for making permanent higher section 179 expensing levels to spur capital investment and growth, simplifying and expanding the use of cash accounting for the smallest of printers, and he offered feedback on potential reform to the rules for printers organized as partnerships and S-corporations, among other viewpoints.
Bearden zeroed in on industry support for Congress making permanent section 179 expensing to allow Linemark and other small printers to deduct investments in new equipment, computer software, and property up to $250,000.
“In an environment of a rapidly changing communications marketplace, it is vital that small printers be able to continually modernize their product and service offerings,” said Bearden. “When I say I’m in the printing business, I’m often asked if the Internet is killing off my profits. People are surprised to hear it’s quite the opposite; there are tremendous growth opportunities in combining old school ink-on-paper printing with online and social media technologies. But it takes serious capital investment in order for small printers to evolve.”
Printing Industries of America is focused on the small business provisions in forthcoming tax reform legislation as printing remains America’s largest “small” manufacturing industry. The typical plant generates approximately $3.3 million in annual sales and employs 20 workers.