What is the difference between a Bonus Depreciation and a. Section 179

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The Administration released its infrastructure investment plan in February. It would provide $1.5 trillion over ten year for infrastructure improvements. Since then Congress has been working to finalize certain aspects of the bill, and coming up with ideas on how to proceed with this legislation. Small businesses would be able to benefit from several key components.

$550 Billion in Aide is promised by the Infrastructure Investment and Jobs Acts

The Infrastructure Investment and Jobs Act proposes the federal government to invest $550 billion in infrastructure. This money will be used across the country for roads, bridges, public transit, and utilities. This is a significant investment in our nation’s infrastructure–which has been neglected for decades–and will create jobs while strengthening our economy.

$1.75 Billion for public transit

The Act would allocate $1.75 billion to public transit projects across the country. This legislation could be used to expand existing systems, invest in new ones or improve them. The bill calls for the creation a national infrastructure program. This program will provide loans, grants and loan guarantees to communities to help them make the necessary infrastructure improvements without the need to repay the federal government.

Upgrade of power infrastructure: $65 billion

The infrastructure that provides electricity is ageing, making it an essential service. The grid must be upgraded and made more resilient to ensure that it can meet the rising demand for electricity as well as support new technologies such electric cars and renewable energy. Over the next ten years, the Administration proposes to invest $65 Billion in this area.

  • 500 million in grants to energy efficiency and renewable energy projects under existing programs
  • $4.5 billion to rural infrastructure for broadband access

Through a fast-track process, and a new interagency council on infrastructure, the Administration will streamline Federal permitting.

Federal permitting will be streamlined by the Administration through a speedy process and a new interagency council for infrastructure. This announcement comes after President Trump signed an executive order on February 24, 2017 establishing the Interagency task force on agriculture and rural prosperity. This task force will make recommendations to improve access to capital for rural business, identify regulatory barriers in agriculture, conduct a study on rural transportation issues and review existing federal programs that support rural America. Yesterday’s announcement continues this work by creating an “Interagency Infrastructure Permitting Coordination Council” that coordinates permitting processes across all federal agencies responsible for infrastructure projects.

This infrastructure investment will benefit small businesses. Small businesses should be aware of what’s next.

You should be aware of what is in store for small businesses if they are among the 25 million who will receive the infrastructure investment and jobs act. Facilitated permitting and project delivery: This bill allows states to collaborate with federal agencies to coordinate permits or approvals. The bill simplifies environmental reviews and allows projects to move faster once regulators approve them. More contractors: The bill authorizes water infrastructure programs such as drinking water treatment plants or wastewater treatment facilities. This will create jobs for small businesses in these areas. This legislation also provides funding for broadband deployment, which is the fastest growing industry in America, and energy efficiency improvements at schools nationwide. The Infrastructure Investment and Jobs Act, a new legislation that will be beneficial to small businesses all across the country, is exciting. This new law will create 15 million additional jobs and $1.5 trillion in investment by 2027. This is a great time to grow your business and hire new employees.

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