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Rep. Vern Buchanan (R-FL-16), chairman of the House Ways and Means Committee’s American Manufacturing Tax Team, recently led a group of House GOP members on a tour of manufacturing facilities in Michigan. The tour highlighted the importance of extending critical tax provisions set to expire in 2025.

Reps. Mike Collins (R-GA-10), Kevin Hern (R-OK-1), Victoria Spartz (R-IN-5) and Rudy Yakym (R-IN-2) joined Rep. Buchanan for a series of discussions focused on ensuring that the tax code enables manufacturers in the U.S. to remain globally competitive.

Touring DENSO: The representatives first visited DENSO’s facility in Southfield, where executives outlined the crucial role research and development plays in the automotive sector. However, the expiration of immediate R&D expensing in 2022 has threatened to hamstring their capacity to innovate, DENSO’s leaders said.

• Rep. Buchanan emphasized the urgency of reinstating immediate R&D expensing to keep manufacturers in the U.S. competitive. “We cannot allow our manufacturers to fall behind in innovation because of uncompetitive tax policies,” he said.
• “Restoring R&D expensing will allow companies like DENSO to continue investing in their businesses, employees and local communities.”

Lunch with manufacturers: Next, the NAM hosted a luncheon roundtable for the representatives and local manufacturers, where participants discussed the need to preserve pro-growth tax policies.

• NAM Executive Vice President Erin Streeter opened the discussion by highlighting how the 2017 Tax Cuts and Jobs Act has been “rocket fuel” for the manufacturing industry. “Tax reform led to historic job creation and wage growth for manufacturers of all sizes,” Streeter said. “Congress must protect manufacturers from devastating tax increases by preserving tax reform in its entirety.”

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