The Securing America Act of 2001 is receiving widespread industry support. Industry heavyweights such as Ademco and HID Corp. are seeking to garner support for the bill, known as H.R. 2970, through advertising, E-mail and promotional faxes. The Security Industry Association (SIA) has been lobbying on behalf of the electronic security industry on Capitol Hill. The bill seeks to amend Section 179 of the tax code by adding a paragraph “B.” The section covers business expenses and the new paragraph would allow businesses to expense up to $24,000 for a security system. Businesses in the 38-percent tax bracket would ultimately spend only $14,880 for $24,000 worth of products and installation.
The bill will be submitted as an amendment on today by Rep. Weller (R-IL), and is expected to pass thanks to broad support from both Democrats and Republicans. For more information on the bill, visit http://www.siaonline.org.
