Policymakers and Tax Experts in Agreement Regarding Best Direction for HEROES Act

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Julio Gonzalez, National Tax Reform Expert, and CEO of Engineered Tax Services has been keeping his finger on the pulse when it comes to new tax legislation in the midst of this complex COVID-19 stimulus proposals

Moore agreed with Gonzalez’ approach regarding the best direction for the HEROES Act.

Despite a chaotic tax season, Julio Gonzalez has been a vocal advocate of effective measures and has provided economically responsible solutions.

Just this week, Julio Gonzalez addressed measures under consideration for the next piece of COVID-19 response legislation, alongside Administration Official, Stephen Moore, and Renowned Economist and President of ALEC, Jonathan William. Later the same day, Julio Gonzalez appeared on The Chris Buskirk Show to continue the discussion surrounding the proposal.

Julio Gonzalez explained why the proposed tax policies, like immediate expensing of real estate promoted by the Tax Foundation is an unfavorable policy that only benefits very few and lead to dangerous malinvestment, tax loopholes, and economic consequences, as historically proven by similar measures. Economist, Larry Kudlow along with Congressman Kevin Brady are pushing for immediate expensing despite all the obvious associated risks. Julio Gonzalez suggest that economists at the Tax Foundation who have likely never invested in real estate and seem to disregard historical data, may be influenced by funding to promote tax loopholes over important tax policy. Instead of ascribing to risky proposals that are potentially influenced by biased donors, like immediate expensing, policymakers should seek bipartisan input and historic data.

The extension of our current tax rules on bonus depreciation would produce much better economic stimulus for small business and likely lead to job creation and retention. Immediate expensing of equipment for small business, which is already in place, should be extended, according to Julio Gonzalez. Moore agreed with Gonzalez’ approach regarding the best direction for the HEROES Act. Furthermore, President Trump has said that he will not sign another COVID-19 response bill into law unless it includes a payroll tax holiday, which Steve Moore agrees is the most important policy that needs to be included in the HEROES Act for economic recovery.

Julio Gonzalez raised a relevant point that this legislation will have a massive impact on upcoming elections. If the immediate expensing of real estate measures is successful, the economic fallout may be attributed to those seeking re-election. Julio Gonzalez is working to hold policymakers and lawmakers accountable as they address COVID-19 tax policy proposals.

About ETS
Engineered Tax Services, Inc. (ETS) is a licensed engineering firm that focuses on federal, state, and local tax benefits. Founder and CEO, Julio Gonzalez, is an expert in tax reform whose strong presence is helping define our current tax laws. Under Gonzalez's guidance and true insight into how the industry is shaping, Engineered Tax Services is one of the largest, fastest growing, and most innovative engineering, energy, and specialty tax credit services firms in the country.

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Jamilette Alvarez
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