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September 19, 2011

Cardin supports tax cut linked to roofing

Sen. Ben Cardin is going to a roofing manufacturer in Frederick this morning to promote a bill to accelerate depreciation for energy-efficient commercial roofing, WBAL reports.

Cardin says it would create 40,000 jobs by reducing the depreciation schedule from 39 years to 20 years. That's effectively a tax cut because it increases a business' deductions. This is the kind of targeted tax cut the country needs more of. (To fix the deficit we also need to commit to future tax increases elsewhere! And also cut spending!) Produces jobs. Conserves energy. Heck, Senator, why not just let businesses expense their new, green roofs? (That would make the biggest deduction of all.)

Posted by Jay Hancock at 9:00 AM | | Comments (1)
Categories: The Great Recession
        

Comments

how about tax deductions for homeowner roofs?
Many corporations get enouph breaks by going overseas, they don't need a tax cut on their US headquarter ofice building for their overseas operations. If you give them any tax break, it should be tied to corporations with manufacturing the majority of their product here in the US. Otherwise, these breaks reward for sending jobs overseas.

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About Jay Hancock
Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Tuesdays and Sundays.
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