Tuesday, April 30, 2019

Retailers urge Congress to support bill to fix remodeling glitch

Chain Store Age
Retailers want Congress to pass a bill that would allow retail stores and restaurants to write off the full cost of improvement projects immediately.

On Monday, 872 business associations and companies, including the National Retail Federation and the Retail Industry Leaders Association, sent a letter to Congress urging members to support the Restoring Investment in Improvements Act, bipartisan and bicameral legislation that would fix a drafting error in the tax reform law that took effect in 2018. The error relates to depreciation rules is delaying millions of dollars in job-creating investments in stores and restaurants across the country.. . . more