AICC has joined more than 500 associations, business advocacy groups and chambers of commerce across the country in calling on House and Senate leaders to pass a business tax extenders bill before the conclusion of this session of Congress.
In a letter sent on Tuesday, November 18, business groups urged the House and Senate tax-writing committees to work together “to extend seamlessly, enhance or make permanent the expired and expiring tax provisions.” The letter went on to say, “These tax provisions are critically important to U.S. jobs and the broader economy.”
The signatory organizations, according to the letter, represent “millions of individuals, businesses of all sizes, community development organizations and non-profit organizations.”
According to Dorothy Coleman, Vice President of Tax Policy for NAM, the tax provisions in question are those that expired on December 31, 2013, including the R&D credit, enhanced Sec. 179 expensing, bonus depreciation, deferral for active financing and the “look-through” rule. In urging Congress to come to an agreement as soon as possible to extend the expired tax provisions, the letter also urges lawmakers to make pro-manufacturing tax provisions permanent. While the House passed several bills to make permanent some provisions, including a strengthened R&D credit, enhanced expensing and bonus depreciation, the full Senate has not yet acted on any extenders. The Finance Committee did approve a bill (the EXPIRE Act) in April to extend through 2015 the expired tax provisions retroactive to the beginning of 2014 but procedural roadblocks have prevented a vote by the full Senate.
AICC and allied industry groups such as the Fibre Box Association, have been advocating for these kinds of policies in the annual Corrugated and Paperboard Industries’ Washington Fly-ins.
For more information, contact AICC's Steve Young at 703-535-1381 or firstname.lastname@example.org.