Printing Industries of America Witnesses Signing of the Economic Stimulus Package, Highlights Benefits for Small Businesses
WASHINGTON, DC—February 13, 2008—The Printing Industries of America attended today’s White House signing ceremony for H.R. 5140, the economic stimulus package. One provision of the law helpful to the printing industry is an increase in the small business expensing limit to $250,000—its highest level ever. Along with expensing more business equipment, printers can take advantage of the 50 percent bonus depreciation deduction on new equipment. These provisions will allow businesses to make immediate investments in their business. PIA pushed for the inclusion of these provisions and is pleased to see them contained in the legislation signed into law today.
“PIA is delighted to see the President sign legislation that will stimulate the manufacturing economy, especially in the printing and graphic communications sector,” said PIA Vice President of Government Affairs Lisbeth Lyons. “Printers will be able to upgrade their equipment and expand their business in a time many companies are finding the economy sluggish. Moving forward, PIA would like Congress to consider making these provisions a permanent part of the tax code.”
President Bush signed the Recovery Rebates and Economic Stimulus for the American People Act into law just a few weeks after working out a compromise with Speaker of the House Nancy Pelosi and House Republican Leader John Boehner, which was followed by deliberation, debate, and compromise in the Senate. PIA congratulates the President and House Leadership on their quick bipartisan work. PIA also congratulates members of the Senate who worked to ensure that the package would contain essential small business tax provisions.
“We are here today because both parties in both chambers came together in support of speeding economic recovery for America’s businesses and taxpayers,” said Lyons. “We thank lawmakers for their efforts and swift action.”
About Printing Industries of America (PIA):
PIA is a part of PIA/GATF, the world’s largest graphic arts trade association representing an industry with more than 1.2 million employees and over $161 billion in revenue. PIA/GATF serves the interests of more than 12,000 member companies.