SIA Calls on Congress to Pass Economic Stimulus Package
The Security Industry Association (SIA) has called on Congress to pass H.R. 2, the Jobs and Growth Tax Reconciliation Act of 2003, to help strengthen the country’s economic and national security.
“Our economic security is of parallel importance to our national security, and this stimulus package provides a strong boost in both areas,” said Richard Chace, executive director of SIA.
Chace noted two provisions in the bill will help many companies struggling to deal with new security expenditures be better positioned to safeguard their business, their communities, and their customers. The provisions are increased bonus depreciation from 30 percent to 50 percent through June 30, 2005 and increased small business spending from $25,000 to $75,000 until 2005.
The provisions are similar to stimulus measures called for in a bipartisan bill introduced by U.S. Representatives Jerry Weller (R-Ill.) and Joseph Crowley (D-N.Y.). That bill, H.R. 1259, the Public Safety and Protection Investment Act of 2003, aimes to provide 100-percent expensing of “qualified security devices” with no caps on expense amounts.
These devices include: electronic access control device or systems, biometric identification device or system i.e. retinal scanners, closed circuit television systems, and software to combat cyber terrorism.
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