Request for Revision of investment Tax Credit formulas to Spur Business Growth

The letter is addressed to James A. Jones and discusses the potential revision of investment tax credit formulas to stimulate business growth. The sender, Hoffman-Chicago, Inc., sells welding equipment and suggests raising the $100,000 ceiling on tax credits for both new and used equipment. They also propose allowing businesses to carry back or forward any excess tax credits. The letter emphasizes the need to incentivize business spending on equipment upgrades and job creation. The sender believes that current unemployment compensation policies discourage people from finding work, and suggests that a generous investment tax credit could encourage job opportunities in business.