Tax
Tax reform means money can go where it’s needed most: empowering manufacturing workers to invest in the community, support their families, grow the economy, create more secure jobs, increase wages and make manufacturing in the U.S. more competitive.
Rep. Morelle Works to Reinstate Pro-Growth Interest Deductibility Standard
October 30, 2024Manufacturing Wins” campaign, the NAM recently interviewed Rep. Morelle about what his congressional colleagues and he are doing to prevent “Tax Armageddon”—the end-of-2025 expiration of several important tax measures—and restore some vital, already expired tax provisions. Among the already expired provisions is tax reform’s standard for interest deductibility, which dictates how much interest on business…
Interest Deductibility Explained
October 29, 2024explainer. What’s going on: Thanks to 2017 tax reform, from 2018 to 2021 manufacturers were allowed to deduct interest on business loans up to a cap of 30% of their earnings before interest, tax, depreciation and amortization (EBITDA). As of 2022, however, manufacturers’ interest deductions are capped at 30% of their earnings before interest and…
Manufacturers on 45X: Tax Credit Is Crucial to Building a Strong and Sustainable Domestic Advanced Manufacturing Supply Chain
October 24, 2024Washington, D.C. – Following the release of guidance by the U.S. Department of the Treasury and the IRS for the Advanced Manufacturing Production Credit (Section 45X of the Internal Revenue Code), National Association of Manufacturers Managing Vice President of Policy Chris Netram released the following statement: “Manufacturers welcome today’s announcement of final guidance on the…
