ITAA Calls For Tax Changes

by Leroy Baker, Tax-News.com, Washington

16 October 2001

In a meeting last week with House Ways and Means Committee Chairman Bill Thomas, the Information Technology Association of America (ITAA) strongly recommended changes to the current tax law aimed at providing a stimulus to the national economy and encouraging improvements to corporate information security.

ITAA President Harris N Miller explained: 'America has gone high tech, and lawmakers need to reflect that fact in the economic stimulus package. Over 10 million Americans work in information technology jobs and information technology itself accounts for one-third of all U.S. economic gains between 1995 and 1999. This year, US sales of information and communications technology will approach $900 billion. Prudent adjustments to current tax laws will help high tech companies do their part in improving the overall economic outlook.'

'I also encourage Congress to take this opportunity to encourage companies to protect their people, property and data by allowing expensing in the first year of all security-related purchases,' he added.

The ITAA provides global public policy and business networking for promotion of the IT industry. The association comprises over 500 corporate members throughout the US and a global network of IT associations in 41 countries and is concerned with policy issues of the IT industry such as information security, taxes and finance policy, digital intellectual property protection and telecommunications.

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