Yesterday, National Taxpayers Union hosted a briefing on Capitol Hill to outline the key principles of pro-growth tax reform and the importance of incentivizing capital investment.
Senator Ted Cruz (R-TX) delivered the keynote address in which he emphasized a number of critically important reforms, including cutting the corporate tax rate, eliminating the death tax, and 
scrapping the alternative minimum tax. In terms of maximizing economic growth, Cruz placed particular emphasis on the need to allow for full and immediate expensing of capital expenditures. He stated, “If we agree objective is growth, then full expensing is very powerful in getting it.”
Cruz further explained how the biggest beneficiaries of full expensing are entrepreneurs. He stated, “If you're a small business or start-up, where you're investing capital for the first time, then full expensing is a big, big deal. Two-thirds of all new jobs come from small businesses. You want them investing, expanding, and raising wages.”
Also delivering remarks at the event were Andrew Moylan, Executive Vice President of National Taxpayers Union Foundation and Kyle Pomerleau, Director of Federal Projects at the Tax Foundation.
Moylan discussed a new NTUF paper, “What’s the Deal with Full Expensing?” and stated that this is perhaps the most critical way to spur economic growth through tax reform. He also talked about how full expensing would make the tax code significantly simpler and ease the tax compliance burden.
Pomerleau spoke in support of making full expensing permanent and cautioned that the temporary expensing provision included in the Republican framework would not provide nearly as much economic benefit.