USTelecom and CTIA hailed the House’s Friday passage...

USTelecom and CTIA hailed the House’s Friday passage of HR-4718, that would make permanent bonus depreciation. The bonus depreciation provisions had expired in December. “Extending 50% expensing will provide certainty, predictability, and an immediate incentive for businesses to make and plan for additional capital investments well into the future,” USTelecom President Walter McCormick said in a statement. “This Administration’s Treasury Department, as well as prior Administrations, have consistently found that bonus depreciation reduces the cost of capital, encourages businesses to expand, and thereby increases investment, jobs, and wages.” CTIA Vice President-Government Affairs Jot Carpenter hailed the bill as “forward-looking tax policy that promotes the investment and innovation necessary for the United States to maintain its world leadership in the deployment of wireless broadband.” The White House said last week it opposes the bill and that senior officials would recommend a presidential veto (CD July 11 p17).