Concurrent Resolution on the Budget, Fiscal Year 2016

Floor Speech

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Mr. BENNET. Mr. President, this is a simple amendment. It increases
the amount of money that small businesses can expense in a given year.
That makes it easier for them to purchase new equipment and grow the
economy.

It is especially important to places such as the State of Colorado,
where small businesses make up 97 percent of the employers in our
State. Specifically, the amendment increases the section 179 expensing
allowance to $1 million. Right now, it is at $25,000.

If we ever manage to pass another extenders bill, it will increase to
$500,000. As we all know, many small businesses are pass-through
entities. So they pay the individual tax rate even though they may use
business tax credits and deductions. So in tax reform they may lose
some of their credits but may not see a corresponding drop in their tax
rates.

As we begin the process of reforming our Tax Code, we need to ensure
that these types of small businesses can continue to grow, invest, and
innovate. This amendment takes an important step in achieving this
goal.

I am told that there is an agreement--there may be an agreement--to
have a voice vote on this amendment. That would certainly be fine with
me.

I yield the floor.

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Mr. BENNET. Mr. President, this amendment is very straightforward.
The purpose reads ``. . . responding to the economic and national
security threats posed by human-induced climate change, as highlighted
by the Secretary of Defense, the Director of National Intelligence, the
Administrator of the National Aeronautics and Space Administration, and
the Administrator of the National Oceanic and Atmospheric
Administration.''

The amendment establishes a deficit-neutral reserve fund to promote
national security, economic growth, and public health by addressing
climate change through the increased use of clean energy, the
deployment of energy efficiency, and the reduction of carbon pollution.

That is it. That is all it is--simply a statement of all the facts
and the suggestions of three common strategies to address the issue.

Climate change is a serious threat to the world, to our country, and
to Colorado. Ask anyone whose farm or ranch depends on water from the
Colorado River or one of its tributaries.

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