WASHINGTON, D.C. – U.S. Senator Pat Roberts (R-Kan.), a senior member of the Senate Finance Committee, today praised bipartisan, bicameral tax extenders legislation to provide tax relief for small businesses, farmers and ranchers, and families.

“This legislation provides the much-needed tax relief and certainty for American families, farmers and ranchers, and businesses,” said Roberts. “I’m pleased this bill includes many provisions I have long fought for that will help grow the economy and create jobs. This bill will give more permanence and predictability in our overly-complex tax code, and I look forward to supporting this measure.”

The Protecting Americans from Tax Hikes (PATH) Act of 2015 makes responsible tax relief permanent and lays the path for comprehensive tax reform. This bill includes many provisions that Roberts has long championed including:

Five-year extension of fifty percent bonus depreciation on new equipment and property purchases
Permanent extension of the research and development (R&D) tax credit
Permanent extension of Section 179 Property expensing
Permanent extension of relief for S Corporations from the so-called “built-in gains tax”
Permanently allows eligible members of the military to qualify for Low Income Housing Tax Credit (LIHTC)
Roberts said, “Bonus depreciation has been extended and expired many times, and while I believe we should make this extension permanent, I’m pleased this five-year extension will give businesses, farmers and ranchers the predictability they need to invest in new, more modern equipment so they can create more jobs and growth in our communities.” Roberts introduced stand-alone legislation earlier this year that would permanently extend this measure.

He continued, “Research and development in new technologies and new products is an important source of economic growth. I’m pleased this bill includes my Innovators Job Creation Act to increase cash flow for small businesses and start-ups involved in R&D intensive activities. This legislation will lead to permanent tax savings, reducing a company’s effective tax rate, increasing cash flow and improving earnings, which results in them becoming a more attractive investment.”

Three additional provisions that Roberts has championed will benefit Kansas military installations and helps soldiers in need find affordable housing, provides permanent relief for S Corporations from the so-called “built-in gains tax,” and ensures small businesses are able to access the capital they need to grow and hire new employees.

The legislation was introduced in the House last night and is expected to be taken up by the House and Senate this week.