Legislative Bulletin - January 28, 2010

TRALA Makes Extra Push for Bonus Depreciation Extension

Building on President Obama’s State of the Union address, TRALA is making an extra push for the U.S. Congress to pass legislation extending the bonus depreciation incentive included in the American Recovery and Reinvestment Act of 2009 that expired on December 31, 2009. The bonus depreciation extension would provide an additional first-year depreciation of 50% of the cost of new trucks purchased in 2010. TRALA has requested that the bonus depreciation extension be included in one of the “jobs” bills that are currently being drafted in the Senate.

In letters to the Chairmen and Ranking Members of the Senate Finance Committee and House Ways and Means Committee, TRALA referenced President Obama’s desire, as stated in his address, to “provide a tax incentive for all large businesses and small businesses to invest in new plants and equipment.” TRALA explained that incentivizing the purchase of 2010 diesel trucks would create “green” jobs and would accelerate the utilization of new emissions reduction technology on our nation’s highways. TRALA also described truck leasing as being on the leading edge of economic recovery by allowing businesses to meet their transportation needs without tying up capital, leaving more cash for growth and job creation.

To see a copy of TRALA’s letter to the leaders of the Senate Finance and House Ways and Means Committee, please click here.

For more information about TRALA’s support for extension of the bonus depreciation incentive, please contact TRALA’s Tom James at tjames@trala.org or by calling (703) 299-9120.