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A GROWTH AGENDA: Four Goals for a Manufacturing Resurgence in America

A GROWTH Agenda: Four Goals for a Manufacturing Resurgence in America

This strategy is a blueprint for competitiveness that will unleash the economy and manufacturing’s outsized multiplier effect. Importantly, manufacturers’ aspirations—the four goals laid out in the pages that follow—are ones that all Americans who want to maintain our country’s economic advantage can rally around.

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Washington, D.C., -  National Association of Manufacturers (NAM) Vice President of Tax and Domestic Economic Policy Dorothy Coleman issued this statement after the House passed H.R. 4718, legislation to make permanent 50 percent expensing, also known as “bonus depreciation”:

“Lawmakers made measurable progress today in solidifying a pro-investment tax climate. Manufacturers commend the House on its support for 50 percent expensing for companies of all sizes. A recent NAM/IndustryWeek Survey of Manufacturers confirms that the expiration of on-again/off-again investment tax incentives have companies holding off on making key purchases, delaying the robust economic growth we need.

In contrast, allowing companies to write off 50 percent of their investment in the first year lowers the after-tax cost of capital, increasing the number of profitable projects a firm can undertake and directly spurring growth in business investment. By making 50 percent expensing a permanent part of the tax code, H.R. 4718 goes a long way to bolster a competitive business environment.

Manufacturers urge the Senate to take action to approve this key investment incentive. The current uncertainty on the tax treatment of investments has forced manufacturers to the sidelines when it comes to investing and growing their businesses. At its core, 50 percent expensing is a growth policy. By making it permanent, policymakers are making investment a permanent part of our economy.” 

To view the NAM’s Key Vote letter, click here.

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