Print

Boustany Pushes for GO Zone Extension in Economic Stimulus Package

Jan 18 2008
 
Washington, D.C.– U.S. Representative Charles W. Boustany, Jr., (R-Southwest Louisiana), today urged Congressional leaders and the President to extend GO Zone provisions in a proposed economic stimulus.
 
“If the President and Congressional leaders are serious about boosting the economy, extending the GO Zone tax provisions is the place to start,” Boustany said. “The GO Zone credits allowed hundreds of small businesses across Louisiana to rebuild, boosting our economy. Extending the deadlines for the GO Zone provisions will allow more businesses to contribute to our economy as well.”
 
Congressman Boustany authored an extension of the current GO Zone credits with Congressman Richard Baker. Baker announced his resignation early this week, and Congressman Boustany began working with Congressional leaders to include the provisions in a national economic stimulus package.
 
Passed in December 2005, the Gulf Opportunity Zone Act of 2005, H.R. 4440, provided depreciation allowances, rehabilitation credits and other incentives for businesses to rebuild or relocate to areas affected by Hurricanes Rita and Katrina. The legislation introduced today would extend many of the deadlines that expire in 2007 or early 2008.
 
Boustany continued, “Small businesses are an integral part of our recovery effort in Southwest Louisiana, and affording them time to make sound decisions is important to ensure a positive and growing business climate.”
 
###