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In a rare moment of DC bipartisanship, the House recently passed the Tax Relief for American Families and Workers Act, which will expand working capital by restoring full business interest expense deductibility to support payroll growth and expansions and accelerating 100% bonus depreciation to bring back full and immediate expensing of equipment and vehicle purchases.
The recent expiration of these tax policies has already had a negative impact on many hospitality operators. In fact, limiting full depreciation and amortization has strained the industry’s ability to invest. With business interest expenses limited, some hotel operators have seen their tax burdens increase by up to 30%.
Our sister organization the Iowa Restaurant Association has created an action alert asking for Iowa’s senators to push HR 7024 over the finish line. Please join them by using the alert link below to show your support and to share how important this tax legislation is to the hotel industry as well.
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