SIA Gets Behind Security Spending Legislation Measures

Jun 1, 2003 12:00 PM

           

The Security Industry Association (SIA) has called on Congress to pass the Jobs and Growth Tax Reconciliation Act of 2003 to help strengthen America's economic and national security.

“Our economic security is of parallel importance to our national security and this stimulus package provides a strong boost in both areas,” says Richard Chace, executive director of SIA.

Chace notes two provisions in the bill that will position companies struggling to deal with new security expenditures to safeguard their business, their communities, and their customers: Bonus depreciation (increased bonus depreciation from 30 percent to 50 percent through June 30, 2005) and small business expensing (for 2003, 2004 and 2005, increased amounts that small businesses can expense from $25,000 to $75,000).

“These provisions act as cost-effective tools that will help America's businesses play an increased role in Homeland security,” Chace says.

SIA also endorses the provisions of the Public Safety and Protection Investment Act of 2003. The bipartisan bill, introduced by U.S. Reps. Jerry Weller (R-Ill.) and Joseph Crowley (D-N.Y.) will provide 100 percent expensing of “qualified security devices” with no caps on expense amounts.

Qualified devices include: electronic access control device or systems, biometric identification device or system, CCTV systems, and software to combat cyber-terrorism.

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