SEMA urged the United States Senate to pass H.R. 5297, the “Small Business Jobs and Credit Act.” The House passed the bill in June. The legislation would create a $30 billion fund to provide banks with less than $10 billion in assets to access capital to lend to small businesses.

“During the past two years, banking relationships have changed for many of our SEMA-member companies,” said Chris Kersting, SEMA president and CEO. “Businesses that have enjoyed years of profits and expansion have had loan requests rejected and credit limits restricted. The reduction in access to capital is prolonging a stagnant economy and producing unnecessary anxiety for businesses and consumers alike.”

In a letter to the Senate, SEMA supported an infusion of capital into smaller banks, with incentives for those banks to offer small-business loans. The funds could be crucial in supporting job growth and economic expansion. The bill also includes a SEMA-endorsed extension of the bonus depreciation program, which allows businesses to write off 50% of the cost of newly purchased depreciable property. The depreciation was permitted in 2008 and 2009. A one-year renewal would encourage companies to invest in newer, more-efficient equipment and spur sales and create jobs.

The legislation would also extend the Section 179 provision, which allows companies to write off up to $500,000 in capital expenditures in tax years 2010 and 2011. Coupled with the extended time period, this expansion would represent a doubling of the current limit.

“SEMA will continue to work with lawmakers, regulators and the banking industry to spur lending,” said Kersting. “Making money and credit available to industry is the lifeblood to this nation’s economic growth. Enacting H.R. 5297 into law is vital towards achieving this goal.”

SEMA urged the United States Senate to pass H.R. 5297, the “Small Business Jobs and Credit Act.” The House passed the bill in June. The legislation would create a $30 billion fund to provide banks with less than $10 billion in assets to access capital to lend to small businesses.

“During the past two years, banking relationships have changed for many of our SEMA-member companies,” said Chris Kersting, SEMA president and CEO. “Businesses that have enjoyed years of profits and expansion have had loan requests rejected and credit limits restricted. The reduction in access to capital is prolonging a stagnant economy and producing unnecessary anxiety for businesses and consumers alike.”

In a letter to the Senate, SEMA supported an infusion of capital into smaller banks, with incentives for those banks to offer small-business loans. The funds could be crucial in supporting job growth and economic expansion. The bill also includes a SEMA-endorsed extension of the bonus depreciation program, which allows businesses to write off 50% of the cost of newly purchased depreciable property. The depreciation was permitted in 2008 and 2009. A one-year renewal would encourage companies to invest in newer, more-efficient equipment and spur sales and create jobs.

The legislation would also extend the Section 179 provision, which allows companies to write off up to $500,000 in capital expenditures in tax years 2010 and 2011. Coupled with the extended time period, this expansion would represent a doubling of the current limit.

“SEMA will continue to work with lawmakers, regulators and the banking industry to spur lending,” said Kersting. “Making money and credit available to industry is the lifeblood to this nation’s economic growth. Enacting H.R. 5297 into law is vital towards achieving this goal.”

SEMA urged the United States Senate to pass H.R. 5297, the “Small Business Jobs and Credit Act.” The House passed the bill in June. The legislation would create a $30 billion fund to provide banks with less than $10 billion in assets to access capital to lend to small businesses.

“During the past two years, banking relationships have changed for many of our SEMA-member companies,” said Chris Kersting, SEMA president and CEO. “Businesses that have enjoyed years of profits and expansion have had loan requests rejected and credit limits restricted. The reduction in access to capital is prolonging a stagnant economy and producing unnecessary anxiety for businesses and consumers alike.”

In a letter to the Senate, SEMA supported an infusion of capital into smaller banks, with incentives for those banks to offer small-business loans. The funds could be crucial in supporting job growth and economic expansion. The bill also includes a SEMA-endorsed extension of the bonus depreciation program, which allows businesses to write off 50% of the cost of newly purchased depreciable property. The depreciation was permitted in 2008 and 2009. A one-year renewal would encourage companies to invest in newer, more-efficient equipment and spur sales and create jobs.

The legislation would also extend the Section 179 provision, which allows companies to write off up to $500,000 in capital expenditures in tax years 2010 and 2011. Coupled with the extended time period, this expansion would represent a doubling of the current limit.

“SEMA will continue to work with lawmakers, regulators and the banking industry to spur lending,” said Kersting. “Making money and credit available to industry is the lifeblood to this nation’s economic growth. Enacting H.R. 5297 into law is vital towards achieving this goal.”

SEMA urged the United States Senate to pass H.R. 5297, the “Small Business Jobs and Credit Act.” The House passed the bill in June. The legislation would create a $30 billion fund to provide banks with less than $10 billion in assets to access capital to lend to small businesses.

“During the past two years, banking relationships have changed for many of our SEMA-member companies,” said Chris Kersting, SEMA president and CEO. “Businesses that have enjoyed years of profits and expansion have had loan requests rejected and credit limits restricted. The reduction in access to capital is prolonging a stagnant economy and producing unnecessary anxiety for businesses and consumers alike.”

In a letter to the Senate, SEMA supported an infusion of capital into smaller banks, with incentives for those banks to offer small-business loans. The funds could be crucial in supporting job growth and economic expansion. The bill also includes a SEMA-endorsed extension of the bonus depreciation program, which allows businesses to write off 50% of the cost of newly purchased depreciable property. The depreciation was permitted in 2008 and 2009. A one-year renewal would encourage companies to invest in newer, more-efficient equipment and spur sales and create jobs.

The legislation would also extend the Section 179 provision, which allows companies to write off up to $500,000 in capital expenditures in tax years 2010 and 2011. Coupled with the extended time period, this expansion would represent a doubling of the current limit.

“SEMA will continue to work with lawmakers, regulators and the banking industry to spur lending,” said Kersting. “Making money and credit available to industry is the lifeblood to this nation’s economic growth. Enacting H.R. 5297 into law is vital towards achieving this goal.”

SEMA urged the United States Senate to pass H.R. 5297, the “Small Business Jobs and Credit Act.” The House passed the bill in June. The legislation would create a $30 billion fund to provide banks with less than $10 billion in assets to access capital to lend to small businesses.

“During the past two years, banking relationships have changed for many of our SEMA-member companies,” said Chris Kersting, SEMA president and CEO. “Businesses that have enjoyed years of profits and expansion have had loan requests rejected and credit limits restricted. The reduction in access to capital is prolonging a stagnant economy and producing unnecessary anxiety for businesses and consumers alike.”

In a letter to the Senate, SEMA supported an infusion of capital into smaller banks, with incentives for those banks to offer small-business loans. The funds could be crucial in supporting job growth and economic expansion. The bill also includes a SEMA-endorsed extension of the bonus depreciation program, which allows businesses to write off 50% of the cost of newly purchased depreciable property. The depreciation was permitted in 2008 and 2009. A one-year renewal would encourage companies to invest in newer, more-efficient equipment and spur sales and create jobs.

The legislation would also extend the Section 179 provision, which allows companies to write off up to $500,000 in capital expenditures in tax years 2010 and 2011. Coupled with the extended time period, this expansion would represent a doubling of the current limit.

“SEMA will continue to work with lawmakers, regulators and the banking industry to spur lending,” said Kersting. “Making money and credit available to industry is the lifeblood to this nation’s economic growth. Enacting H.R. 5297 into law is vital towards achieving this goal.”

SEMA urged the United States Senate to pass H.R. 5297, the “Small Business Jobs and Credit Act.” The House passed the bill in June. The legislation would create a $30 billion fund to provide banks with less than $10 billion in assets to access capital to lend to small businesses.

“During the past two years, banking relationships have changed for many of our SEMA-member companies,” said Chris Kersting, SEMA president and CEO. “Businesses that have enjoyed years of profits and expansion have had loan requests rejected and credit limits restricted. The reduction in access to capital is prolonging a stagnant economy and producing unnecessary anxiety for businesses and consumers alike.”

In a letter to the Senate, SEMA supported an infusion of capital into smaller banks, with incentives for those banks to offer small-business loans. The funds could be crucial in supporting job growth and economic expansion. The bill also includes a SEMA-endorsed extension of the bonus depreciation program, which allows businesses to write off 50% of the cost of newly purchased depreciable property. The depreciation was permitted in 2008 and 2009. A one-year renewal would encourage companies to invest in newer, more-efficient equipment and spur sales and create jobs.

The legislation would also extend the Section 179 provision, which allows companies to write off up to $500,000 in capital expenditures in tax years 2010 and 2011. Coupled with the extended time period, this expansion would represent a doubling of the current limit.

“SEMA will continue to work with lawmakers, regulators and the banking industry to spur lending,” said Kersting. “Making money and credit available to industry is the lifeblood to this nation’s economic growth. Enacting H.R. 5297 into law is vital towards achieving this goal.”

SEMA urged the United States Senate to pass H.R. 5297, the “Small Business Jobs and Credit Act.” The House passed the bill in June. The legislation would create a $30 billion fund to provide banks with less than $10 billion in assets to access capital to lend to small businesses.

“During the past two years, banking relationships have changed for many of our SEMA-member companies,” said Chris Kersting, SEMA president and CEO. “Businesses that have enjoyed years of profits and expansion have had loan requests rejected and credit limits restricted. The reduction in access to capital is prolonging a stagnant economy and producing unnecessary anxiety for businesses and consumers alike.”

In a letter to the Senate, SEMA supported an infusion of capital into smaller banks, with incentives for those banks to offer small-business loans. The funds could be crucial in supporting job growth and economic expansion. The bill also includes a SEMA-endorsed extension of the bonus depreciation program, which allows businesses to write off 50% of the cost of newly purchased depreciable property. The depreciation was permitted in 2008 and 2009. A one-year renewal would encourage companies to invest in newer, more-efficient equipment and spur sales and create jobs.

The legislation would also extend the Section 179 provision, which allows companies to write off up to $500,000 in capital expenditures in tax years 2010 and 2011. Coupled with the extended time period, this expansion would represent a doubling of the current limit.

“SEMA will continue to work with lawmakers, regulators and the banking industry to spur lending,” said Kersting. “Making money and credit available to industry is the lifeblood to this nation’s economic growth. Enacting H.R. 5297 into law is vital towards achieving this goal.”

SEMA urged the United States Senate to pass H.R. 5297, the “Small Business Jobs and Credit Act.” The House passed the bill in June. The legislation would create a $30 billion fund to provide banks with less than $10 billion in assets to access capital to lend to small businesses.

“During the past two years, banking relationships have changed for many of our SEMA-member companies,” said Chris Kersting, SEMA president and CEO. “Businesses that have enjoyed years of profits and expansion have had loan requests rejected and credit limits restricted. The reduction in access to capital is prolonging a stagnant economy and producing unnecessary anxiety for businesses and consumers alike.”

In a letter to the Senate, SEMA supported an infusion of capital into smaller banks, with incentives for those banks to offer small-business loans. The funds could be crucial in supporting job growth and economic expansion. The bill also includes a SEMA-endorsed extension of the bonus depreciation program, which allows businesses to write off 50% of the cost of newly purchased depreciable property. The depreciation was permitted in 2008 and 2009. A one-year renewal would encourage companies to invest in newer, more-efficient equipment and spur sales and create jobs.

The legislation would also extend the Section 179 provision, which allows companies to write off up to $500,000 in capital expenditures in tax years 2010 and 2011. Coupled with the extended time period, this expansion would represent a doubling of the current limit.

“SEMA will continue to work with lawmakers, regulators and the banking industry to spur lending,” said Kersting. “Making money and credit available to industry is the lifeblood to this nation’s economic growth. Enacting H.R. 5297 into law is vital towards achieving this goal.”

(From left to right) Jill Bookman, CEO; Laura Bergan, VP/Marketing; and Melissa Trought, CFO/COO, of American Collectors Insurance accept a framed copy of Senate Resolution 513. Bergan is also chairman of the Automotive Restoration Market Organization.

Ethan Landesman, director of the SEMA Action Network (left), presents Senate Resolution 513 to Dennis Overholser (middle) and Rick Love, chairman and chair-elect respectively of the Hot Rod Industry Alliance (HRIA).

Collector car enthusiast organizations gathered across the country July 9 to celebrate the first-ever “Collector Car Appreciation Day,” as designated by U.S. Senate Resolution 513 (S. Res. 513). Events ranged from car cruises and shows to small-business open houses, and special offers were held to honor the cultural and educational importance of collector cars.

Car clubs, enthusiast organizations and affiliated businesses hosted more than 100 events in more than 40 states to commemorate this special day. Check out the photos at www.flickr.com/photos/collectorcarappreciationday/sets.

“The Senate resolution creating Collector Car Appreciation Day validated what we already knew,” said Chris Kersting, SEMA President and CEO. “Americans love their cars. By taking part in these events around the country, automotive enthusiasts and the businesses that serve them ensured that this passion was honored and recognized.”

At the request of SEMA and the Automotive Restoration Market Organization (ARMO), S. Res. 513 was sponsored by Congressional Automotive Performance and Motorsports Caucus members Senator Jon Tester (D-MT) and Senator Richard Burr (R-NC). Senators Tester and Burr have been strong advocates for the automotive hobby in Washington, and S. Res. 513 reaffirms their understanding of the cultural importance of collector cars.

The Caucus is an informal, non-partisan group that pays tribute to America’s ever-growing love affair with the car and motorsports. The Caucus recognizes the integral role collector cars have played in fostering our nation’s appreciation for motorsports.

A sample of some of the events that took place on July 9 include: Goodguys PPG Nationals in Columbus, Ohio; Classic Industries Collector Car Appreciation Day Sale; The Sid Waterman Classic Auto and Art Show in Gualala, California; a cruise on scenic Hwy. 8 organized by the AACA in North Carolina; the Meguiar's nationwide “Automotive Handshake”; two-for-one admission to the National Automobile Museum in Reno, Nevada; and many more.

During several of these events, SEMA presented copies of S. Res. 513 to enthusiast advocates and supporters of the industry who will display them at museums and car club events.

“We look forward to working with the Congress to make Collector Car Appreciation Day an annual event,” said Steve McDonald, SEMA vice president of government affairs. “The momentum created on July 9 will continue to raise awareness of the vital role automotive restoration and collection plays in American society.”

(From left to right) Jill Bookman, CEO; Laura Bergan, VP/Marketing; and Melissa Trought, CFO/COO, of American Collectors Insurance accept a framed copy of Senate Resolution 513. Bergan is also chairman of the Automotive Restoration Market Organization.

Ethan Landesman, director of the SEMA Action Network (left), presents Senate Resolution 513 to Dennis Overholser (middle) and Rick Love, chairman and chair-elect respectively of the Hot Rod Industry Alliance (HRIA).

Collector car enthusiast organizations gathered across the country July 9 to celebrate the first-ever “Collector Car Appreciation Day,” as designated by U.S. Senate Resolution 513 (S. Res. 513). Events ranged from car cruises and shows to small-business open houses, and special offers were held to honor the cultural and educational importance of collector cars.

Car clubs, enthusiast organizations and affiliated businesses hosted more than 100 events in more than 40 states to commemorate this special day. Check out the photos at www.flickr.com/photos/collectorcarappreciationday/sets.

“The Senate resolution creating Collector Car Appreciation Day validated what we already knew,” said Chris Kersting, SEMA President and CEO. “Americans love their cars. By taking part in these events around the country, automotive enthusiasts and the businesses that serve them ensured that this passion was honored and recognized.”

At the request of SEMA and the Automotive Restoration Market Organization (ARMO), S. Res. 513 was sponsored by Congressional Automotive Performance and Motorsports Caucus members Senator Jon Tester (D-MT) and Senator Richard Burr (R-NC). Senators Tester and Burr have been strong advocates for the automotive hobby in Washington, and S. Res. 513 reaffirms their understanding of the cultural importance of collector cars.

The Caucus is an informal, non-partisan group that pays tribute to America’s ever-growing love affair with the car and motorsports. The Caucus recognizes the integral role collector cars have played in fostering our nation’s appreciation for motorsports.

A sample of some of the events that took place on July 9 include: Goodguys PPG Nationals in Columbus, Ohio; Classic Industries Collector Car Appreciation Day Sale; The Sid Waterman Classic Auto and Art Show in Gualala, California; a cruise on scenic Hwy. 8 organized by the AACA in North Carolina; the Meguiar's nationwide “Automotive Handshake”; two-for-one admission to the National Automobile Museum in Reno, Nevada; and many more.

During several of these events, SEMA presented copies of S. Res. 513 to enthusiast advocates and supporters of the industry who will display them at museums and car club events.

“We look forward to working with the Congress to make Collector Car Appreciation Day an annual event,” said Steve McDonald, SEMA vice president of government affairs. “The momentum created on July 9 will continue to raise awareness of the vital role automotive restoration and collection plays in American society.”