NAM Applauds Key Investment Incentives in the “Start Up Jobs and Innovation Act”

By November 7, 2013Taxation

Manufacturers know firsthand that capital investment is critical for economic growth, job creation and competitiveness, which is why the NAM has long supported a strong capital cost recovery system. Kudos to Sens. Patrick Toomey (R-PA) and Bob Menendez (D-NJ) for introducing the “Start Up Jobs and Innovation Act” and for recognizing the critical role that Sec. 179 expensing plays in encouraging investment by smaller manufacturers. As a capital intensive industry sector, making permanent the higher expensing limit that is in law today is key to helping manufacturers grow and compete. This is a key provision for NAM members.

More generous expensing  lowers the after-tax cost of investing  for manufacturers making capital investments and helps spur sales for manufacturers selling the equipment. The NAM applauds the Senators for making permanent the current $500,000 expensing limit, eliminating the phase-out, and indexing the limit to inflation. These common-sense updates to this provision will allow more manufacturers to realize the benefit of expensing. Manufacturing has the highest multiplier of any other economic sector — every dollar spent in manufacturing adds another $1.48 to the economy. A permanent expansion of Sec. 179 benefits U.S. manufacturers and the economy as a whole. We applaud the Senators for their leadership in this area.

Carolyn Lee

Carolyn Lee

Executive Director of The Manufacturing Institute at The Manufacturing Institute
Carolyn Lee is Executive Director of The Manufacturing Institute, the non-profit affiliate of the National Association of Manufacturers (NAM), the nation’s largest industrial trade association. Carolyn drives an agenda focused on improving the manufacturing industry through its three centers: the Center for the American Workforce, the Center for Manufacturing Research, and the Center for Best Practices.

In her role, Carolyn leads the Institute’s workforce efforts to close the skills gap and inspire all Americans to enter the U.S. manufacturing workforce, focusing on women, youth, and veterans. Carolyn steers the Institute’s initiatives and programs to educate the public on manufacturing careers, improve the quality of manufacturing education, engage, develop and retain key members of the workforce, and identify and document best practices. In addition, Carolyn drives the agenda for the Center for Manufacturing Research, which partners with leading consulting firms in the country. The Institute studies the critical issues facing manufacturing and then applies that research to develop and identify solutions that are implemented by companies, schools, governments, and organizations across the country.

Prior to joining the Institute, Carolyn was Senior Director of Tax Policy at the NAM beginning in 2011, where she was responsible for key portions of the NAM’s tax portfolio representing the manufacturing community on Capitol Hill and in the business community and working closely with the NAM membership. She served as the Director of Legislative and Government Affairs at the Telecommunications Industry Association, Manager of State and Federal Government Affairs for 3M Company, and in various positions on Capitol Hill including as Legislative Director for former U.S. Senator Olympia Snowe (R-ME), and as a senior legislative staff member for former U.S. Rep. Sue Kelly (R-NY).

Carolyn is a graduate of Gettysburg College in Gettysburg, Pennsylvania graduating with a B.A. in Political Science. She resides in Northern Virginia with her husband and three children.
Carolyn Lee

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