The Issue:
The U.S. subprime mortgage crisis in 2008 has become an economic crisis being felt in the United States and globally. In response, growth projections are down, currencies have lost value against the dollar, stock markets have plummeted and the United States is experiencing record breaking job loss. The 111th Congress and President Obama's Administration are working together to create fiscal stimulus packages that would support industries, markets, businesses and individuals alike.
NGLCC and the Issue:
The NGLCC encourages Congress and the White House to create and support an economic stimulus package that particularly supports the small business engine that runs the American economy, particularly through the extension of bonus depreciations passed by the 110th Congress that allow businesses to immediately recover the costs of capital expenditures made in 2008 and 2009, as well as giving small businesses the opportunity to write-off up to $125,000 of capital expenditures.
