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We provided 100% expensing and bonus appreciation, which is tremendous. One of the biggest things that you have. I mean, it's people have no idea how big that is. The businesses do. So, [snorts] that businesses can deduct 100% of the cost of new facilities, equipment, and capital investment in the first year. It used to take 38 years of deduction. Now, you get it done in one. You can take one so you can expand. I think that's what made us so successful in the first term, but now we have it for a 10-year period. So, you have it for a while. I really was going to make it for a 1-year period. That would mean you spend all your money immediately. Now, unfortunately, I gave you too much time.
I was sort of against that. I said, "Let's do it for a shorter period of time." But, we did it. It's the right thing. And this way, when I get out of office in, let's say, 8 or 9 years from now, I'll be able to use it. I'll be able to use it myself. Yeah. And to ensure that you and your family can keep your businesses in the family, we virtually eliminated the unfair estate tax or death tax for farmers and for small businesses. So, you know, often times you build I mean, I just met some incredible people that have beautiful businesses, small businesses. They want to have their children. Those businesses were all long-term. It was the father was there, right? We're just talking about with the beautiful
pretzels. I said, "Pretzels, those are good. I want to take some right now, but I didn't want to be rude and rip your bag apart." But, uh the businesses were they've been in business for a long time, almost every one of them. And uh you pass away, you want to have your children take over your business. They work in your business, and they got hit with the estate tax, or we call it the death tax, but we call it both. It does the same thing. And uh they couldn't afford it. They went out, they take the business, they mortgage it up to pay the tax, and they end up losing the business. They end up going bankrupt. They end up uh in many cases committing suicide. We have a lot of that. You have a lot especially
farms, you know. They want to be on that farm. They don't want to lose their And it's uh land-rich and cash-poor. And they go out and they borrow and keep borrowing. We ended that. No more estate taxes on farms and small businesses.
