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Show TAX INCENTIVE PACKAGE FOR SMALL. BUSINESS Rep. Dan Marriott Is preparing pre-paring a 'Small Business Tax Incentive Package' which he expects to be com -pleted some time next week. Marriot says the package is his answer to a definite need for the rapid implementation imple-mentation of Small Business tax incentives to ease the disproportionate economic burden now being borne by Small Business. According to Marriott his package will include amajor addition to the Reagan Administration's Ad-ministration's 10-5-3 tax proposal which in essence is a plan to provide business tax exemptions for three years for autos, five years for equipment and machinery and 10 years for Industrial buildings, stores, and warehouses. ware-houses. '10-5-3' is a good starting start-ing point. But we must go beyond that If this nation and it's small businesses are to enjoy genuine econom -ic recovery. My proposal would go a step further than 10-5-3- by adding $25,000 direct expensing1 within a single year for small businesses. busi-nesses. In effect, this expands ex-pands Reagan's proposal to a 10-5-3-1 plan.' |
