The National School Transportation Association is supporting tax extenders in the “lame duck” Congress that cover the alternative fuel and bonus depreciation credits that are set to expire by the end of the year.
NSTA is one of 528 associations and non-profit groups to sign letters sent this week to members of both the House and Senate The coalition letters to Congress highlight that the failure to extend the tax credits would effectively result in tax hikes. They also call for renewal as soon as possible this year to take effect in time for companies to prepare their 2014 tax returns. But failure to act, the organizations write, “will inject instability and uncertainty into the economy and weaken confidence in the employment marketplace,” as refund checks and spending decisions would be impacted.
“Acting promptly on this matter in lame duck will provide important predictability necessary for economic growth,” the letter states. “We urge all members of Congress to work together to extend seamlessly, enhance, or make permanent these important tax provisions this year to provide a necessary bridge to comprehensive tax reform.”
NSTA added that it is encouraging its members to forward the coalition letter to their own congressional representatives.
The letters to Congress were organized by the National Association of Manufacturers, which also supports the passage of the new Miscellaneous Tariff Bill that expired in 2012. In a statement, NAM said the legislation would support job creation, spur economic growth and enhance manufacturers’ global competitiveness by eliminating or reducing import duties on hundreds of raw materials and intermediate products that are not available in the U.S.