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ACCA Urges Senate For Small Business Stimulus

ARLINGTON, VA — In a letter to the chairman of the Senate Finance Committee, the Air Conditioning Contractors of America (ACCA) urged the Senate to stand behind the country’s hvacr contractors as Congress crafts a proposed economic stimulus package.

ACCA national president Larry Taylor wrote Senator Max Baucus (D-MT) to encourage him to include two provisions for small business in the Senate’s economic stimulus legislation. Those provisions include increasing the allowance for direct expensing by companies to $50,000, and modifying depreciation rules to establish a 10-year life for leasehold improvements.

According to ACCA, an increase in direct expensing would help contractors make speedier purchase decisions on large equipment by reducing their tax liabilities. Businesses are currently limited to a total of $24,000 in direct expensing and are required to depreciate the remainder of the costs of equipment, according to ACCA.

Taylor wrote that “Increasing the direct expensing allowance for equipment purchases would eliminate much of the burdensome recordkeeping involved in depreciating such equipment and act as a true stimulus.”

He also wrote that shortening the current 39-year depreciation to 10 years would “result in long-term productivity growth and much-needed economic stimulus.” A shorter depreciation schedule for leasehold improvements would encourage the upgrading and installation of new hvacr systems in commercial facilities.

ACCA executive vice president and ceo Paul T. Stalknecht added, “Hvacr contracting provides a significant employment base in communities all across America. There has been much debate and political posturing over an economic stimulus package on both sides of the aisle. If Congress’s goal is to provide true economic stimulus, here are two opportunities to provide both a quick shot-in-the-arm as well as lay the groundwork for significant long-term growth.”

Publication date: 11/12/2001

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