USHBC Supports Rep. Moore’s Small Business Growth Act
This critical piece of legislation seeks to empower small businesses, the nation’s leading job creators, by increasing the cap on tax deductions for investments in equipment or property under Section 179 of the Internal Revenue Code.
Javier Palomarez, USHBC President and CEO, issued the following statement:
“The Small Business Growth Act is a game-changer for small business owners across the United States. By increasing the cap on immediate tax deductions for qualifying business investments from $1 million to $2 million, this legislation provides the kind of tangible relief and incentive that fuels economic growth, innovation, and job creation.”
The proposed update to Section 179 would enhance small businesses’ ability to invest in the equipment and infrastructure necessary to compete in a global marketplace. American small businesses, many of which operate in the manufacturing, construction, and energy sectors, stand to benefit significantly from the flexibility and resources afforded by this legislation.
The USHBC emphasizes the importance of bipartisan cooperation to ensure the success of measures like the Small Business Growth Act, which seeks to enhance the competitiveness of America’s small business community and support their workforce.
Javier continued by saying:
“We urge Congress to pass the Small Business Growth Act. This bill will strengthen the entrepreneurs and workers that serve as the backbone of our economy and provide the tools they need to grow, innovate, and continue driving our nation’s prosperity.”
To learn more, follow @myushbc and @JPalomarez on X.
Visit ushbc.com/join to become a member today.
About the USHBC
Javier Palomarez is the President & CEO of the United States Hispanic Business Council (USHBC). The United States Hispanic Business Council (USHBC) is the leading voice for the Hispanic business community. A 501(c)6 non-profit organization, the USHBC focuses on improving access to contracting in the public and private sector, fair representation of Hispanics in business, media, and politics and ensuring Hispanics have a voice in the national dialogue. The USHBC is a nonpartisan organization.
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