Bill To Give Tax Break For Security Gear In Congress

[InfoSec News <isn () c4i org>]

http://www.newsbytes.com/news/01/171912.html

By Staff, Newsbytes
WASHINGTON, D.C., U.S.A.,
06 Nov 2001, 4:58 PM CST
 
A bill introduced in the House in late September that would offer
companies tax breaks for buying biometrics and other cyber-security
devices has been holding fast at the committee level since its
unveiling.
 
Introduced by Rep. Jerry Weller, R-Ill., the Securing America
Investment Act of 2001, H.R. 2970, allows businesses to write off
"qualifying" security devices for the fiscal year that the devices are
actually put into service.

Qualifying devices, according to the bill, include electronic access
control, biometric identification and closed-circuit television or
surveillance systems, as well as computers and software used to try to
put the brakes on cyber-terrorism.

The bill, if passed into law, would apply to the last quarter of
fiscal year 2001 and following fiscal years.

Co-sponsors include Reps. Phil Crane, R-Ill., Joseph Crowley, D-N.Y.,
Johnny Isakson, R-Ga., and C.L. "Butch" Otter, R-Idaho.

The bill was referred to the House Ways and Means Committee, but in
light of the waning congressional year, and the large amount of
appropriations bills not yet passed, as well as the backload of
legislation stemming from the Sept. 11 terrorist attacks and the
subsequent Capitol Hill anthrax scare, the bill at this point either
will languish until next year, or potentially be included in a larger
appropriations package.

Weller has been one of the leading proponents of increased computer
and IT equipment depreciation rates, as well as other corporate tax
breaks for high-tech equipment. He succeeded in getting language in
this area included in the House-passed version of the economic
stimulus package.

That bill now will go up against equivalent Senate legislation, but
many of the House tax break provisions could falter under the
Democrat-led Senate's scrutiny.

Democrats in the Senate have been pressing for more government
spending to aid in U.S. economic recovery, while the Republican
minority and the House-passed legislation focus more on tax breaks.

Reported by Newsbytes.com, http://www.newsbytes.com



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