Both Chambers of Congress received a letter this morning signed by the NAM and over 500 organizations from the Broad Tax Extenders Coalition — a group representing millions of individuals, businesses of all sizes, community development organizations and non-profit organizations – urging Congress to work together during Lame Duck to extend seamlessly, enhance or make permanent the tax provisions that expired in 2013 and those expiring this year.
To heighten the urgency for Congress to act now, the NAM hosted a press conference today where Dorothy Coleman, NAM’s Vice President of Tax and Economic Policy, pointed out that the diverse nature of the letter signatories from the agriculture sector to railroads, to manufacturers, small businesses, and beyond really make up every corner of the entire U.S. economy. Dorothy called on Congress to extend these temporary tax provisions that are critically important for U.S. jobs and the broader economy.
Drew Greenblatt, President and Owner of Marlin Steel Wire Products in Baltimore, Maryland echoed the need for Congress to act immediately, saying that Congress must end the gridlock now and work together to spur growth by addressing tax extenders. Drew explained that the expired tax provisions like the R&D tax credit, enhanced small business expensing and bonus depreciation must be extended in order to grow middle class American manufacturing jobs. Matt Turkstra, from the National Federation of Independent Business agreed that enhanced small business expensing, which gives businesses an incentive to invest in equipment, needs to be reinstated to provide much-needed certainty.
Mike Friemel from Friemel Family Farms also relies on investment incentives for his Texas farm. Mike told reporters that enhanced Section 179 expensing needs to be retroactively extended so that he will be able to make new investments, like replacing out of date tractors, next year.
In addition to investment incentives, many non-profit and charitable groups signed on the letter because of the charitable deductions typically found in tax extenders. Carrie Calvert from Feeding America, the nation’s largest anti-hunger organization, joined the press conference to urge an extension of the food donation tax deduction which will make it easier for food producers and manufacturers to donate millions of pounds of food to food banks across the country.
In addition to the letter and press conference, the Coalition has worked with the Business Roundtable to develop advertisements that will be featured in congressional publications stating that “Congress has a choice: Gridlock or Growth” when it comes to addressing the expired tax provisions that are needed to boost the economy immediately.
Before joining the NAM, Crooks served as senior manager of government affairs for Financial Executives International, where she advocated on behalf of the association’s membership of senior-level business executives on tax, corporate treasury, pension and benefit issues. Previously, she worked as a legislative assistant to Rep. Michael Castle (R-DE), a senior member of the House Committee on Financial Services. Christina handled financial services issues for the Congressman during consideration of the Dodd-Frank Act, and also worked on small business and judiciary issues. Christina earned a B.A. in Political Science from the University of Delaware and a M.A. in Political Science from American University.
Latest posts by Christina Crooks (see all)
- Manufacturers Support Key Changes to Dodd-Frank - April 28, 2017
- NAM Urges SEC to Suspend Pay Ratio Rule - March 24, 2017
- NAM Supports Investing in America’s Small Manufacturers - February 27, 2017