Skip Navigation Links
2014
2013
2012
2010
Videos
AGA Applauds Policy Guidance on Cyber Threat Information Sharing and Antitrust
AGA

 9/17/2010 

AGA Contacts:
Jennifer O’Shea, 202-824-7023
Jake Rubin, 202-824-7027

 Senate Passes Small Business Jobs and Credit Act   

 
   

Washington, D.C. — On September 16, 2010, by a vote of 61 to 38, the U.S. Senate passed H.R.5297, the Small Business Jobs and Credit Act.

This legislation includes an extension of the 50 percent bonus depreciation deduction for 2010, which was a priority for many of AGA’s members. Additionally, it includes approximately $12 billion in tax relief for small businesses and a $30 billion lending fund that will be administered by the Treasury Department.

“Natural gas utilities throughout the country invested in capital projects to improve infrastructure because they expected bonus depreciation to be extended through 2010. Sadly, despite commitments to that effect, it expired at the end of 2009, leaving a wake of uncertainty,” said David Parker, AGA president and CEO. “This week’s action by the Senate to pass the small business bill will finally alleviate the uncertainty utilities have faced.

“Because natural gas is clean, domestically produced and at historically low prices, consumer demand continues to grow, and our members must be able to expand to meet that demand. Bonus depreciation provides an incentive to expand and upgrade our natural gas infrastructure and we are hopeful that the House will move swiftly next week so that the President can sign this critical legislation into law,” Parker concluded.

# # #
The American Gas Association, founded in 1918, represents more than 200 local energy companies that deliver clean natural gas throughout the United States. There are more than 71 million residential, commercial and industrial natural gas customers in the U.S., of which 94 percent — over 68 million customers — receive their gas from AGA members. Today, natural gas meets almost one-fourth of the United States' energy needs.

Join the Energy Conversation