Lowey, Captain Lawrence Owner Toast Plan for Business Growth
For Captain Lawrence Brewing Company owner Scott Vaccaro, Rep. Nita Lowey’s plan to give small businesses tax credits and allow 100-percent expensing of equipment purchases were definitely worth toasting to.
Lowey was at the brewery in Elmsford Thursday afternoon pushing for initiatives she said would incentivize small businesses to ramp up hiring and help jump-start the economy.
“Frankly, many businesses want to expand and hire people, they just need some help and I support President Obama’s ‘To-Do List’ for small business growth,” Lowey (D-Harrison) said, referring to a list of initiatives Obama unveiled this month and is urging Congress to pass before its summer recess. “The government must be actively working to provide tax relief and encourage small businesses to keep the momentum going to strengthen the economy.”
Lowey, speaking during National Small Business Week, pushed for Congress to allow companies to deduct the full cost of equipment purchases from their federal taxes and to give businesses a 10-percent tax credit if they hired new workers or upped wages. Specifically, she asked that the Republican-controlled House bring these measures to a vote.
“These proposals are really important,” Lowey said. “When I’m out there talking to small businesses, they all agree that this will help jump-start out economy and encourage businesses to hire.”
Vaccaro, whose company expanded and moved to Elmsford earlier this year, said government incentives had helped his business take off.
“As the congresswoman touched on, 100-percent expensing of equipment for us has been a big help and has allowed us to expand,” said Vaccaro.
Lowey and Vaccaro were joined by Greenburgh Councilman Kevin Morgan, Oscar Nordstrom Sr. of Nordstrom Contracting in Elmsford and Thomas McHale of the New York Business Development Corporation. After holding a press conference, Lowey sampled one of Captain Lawrence’s beers and toured the facility.
Adam has worked in the local news industry for the past two decades in Westchester County and the broader Hudson Valley. Read more from Adam’s author bio here.
