Sunday, March 9, 2014
(Continued from page 1)
Small businesses are the engine that drives economic growth, and the manufacturing sector in particular has an important role to play by creating jobs up and down the supply chain.
Starting and growing a manufacturing business, however, bears risk and can be a difficult challenge. Manufacturing is capital intensive, which means that manufacturers must first spend money to acquire equipment and other materials for production before they can earn a single dollar in return. For small businesses, especially those just starting out, this can be a harsh reality.
Sen. Collins has authored legislation that would ease this burden by allowing companies that purchase equipment or upgrade their facilities to more rapidly deduct the cost of their investment. The Small Business Tax Certainty and Growth Act achieves this partly by making permanent the maximum allowable deduction under Section 179 of the tax code, a provision that has changed three times in the past six years and is scheduled to change again next year.
The bill would also allow more small businesses to use the simpler cash method of accounting, saving both costs and confusion. And, of particular concern to companies that are just starting out, Sen. Collins' bill would double the tax deduction for start-up expenses, from $5,000 to $10,000.
The Manufacturers Association of Maine thanks Sen. Collins for introducing this legislation, which would give manufacturers and other small business owners the certainty and tax relief they need to grow their businesses, create good-paying jobs, and move our economy forward.
Lisa G. Martin
Manufacturers Association of Maine
Anti-national defense tone ignores the price of peace
Rosalie Paul's op-ed of Aug. 20 added her objection to a request by BIW for tax breaks.
I am curious about what the request was and what justified the request.
Corporate welfare was suggested.
However, I was mainly disturbed by the anti-national defense tone in her article.
She was "weary of the war machine" and wanted BIW to succeed as a manufacturer of non-war materials.
Does Ms. Paul recall 9/11?
We did not provoke that attack.
Those people are still out there.
They have not repeated that event due to our vigilance and because of our strength and ability to retaliate.
BIW helps that effort.
There is a price for peace.
The future of our children depends upon that, not on the vulnerability of national defense neglect.
Thomas F. Shields, M.D.