AWI e-briefs - 04/01/2010 (Plain Text Version)

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President Obama Signs HIRE Act

The HIRE Act (H.R. 2847), signed by President Barack Obama on March 18, contains helpful provisions for subcontractors and small businesses.

The American Subcontractors Association (ASA) reported that measures it supported are included in the new law:

  • A one-year extension of a tax provision that allows small businesses to write off up to $250,000 of capital expenditures; and
  • An expansion of the Build America Bonds program, which provides a federal subsidy for state and local governments' cost of borrowing for building and infrastructure investment.

    Good news for the construction industry.
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