Assembly Lines: Tax Bill Provides Incentive for Equipment Orders
MCLEAN, VA—The new tax relief bill contains a 50 percent expensing allowance for machine tools and other equipment ordered between May 6, 2003 and Dec. 31, 2004, and placed in service by Dec. 31, 2004.
The bill is part of a $350 billion, 10-year jobs and economic growth tax cut. The Association for Manufacturing Technology (AMT) believes it will add more jobs by enabling manufacturers to more rapidly improve their productivity.