All year long, the NAM and members of the Broad Tax Extenders Coalition have been urging Congress to act immediately to extend a package of expired tax provisions known as “tax extenders,” forcing this issue to the top of their priority list before the end of the year. Unfortunately, there has not yet been agreement on how to extend the provisions, which is why the NAM is taking the fight to social media and is seeking your help to push for a permanent or multi-year extension of the temporary tax provisions today, Tax Relief Tuesday.
Tax Relief Tuesday is an opportunity for everyone impacted by the temporary nature of these important tax provisions to let their members of Congress know that we have waited long enough — nearly twelve months — for an extension. Manufacturers, farmers, teachers, charitable organizations, working families and businesses of all sizes need action on tax extenders before the end of the year, or else they may face negative consequences of higher tax bills, less investments, and slumping economic growth.
Since their expiration at the end of 2014, the NAM has been a leading voice calling for tax extenders to be seamlessly revived and reinstated as soon as possible for as long as possible. Just yesterday, in letters to Jason Furman, Chairman of the White House Council of Economic Advisers, Mark Mazur, Assistant Secretary for Tax Policy at the Department of Treasury, and congressional leadership, the NAM urged the Administration and Congress to work together on a permanent or, at a minimum, a multi-year extension of the tax extenders important to manufacturers, including: the R&D tax credit, enhanced Section 179 expensing, first year 50% expensing, the look through rule for controlled foreign corporations, and deferral for active financing income.
Informal reports have indicated that there are ongoing discussions between Congress and the Administration on extending the expired tax provisions for two or more years, with the potential to make some provisions permanent. However, a final deal is far from secured.
For this reason, we need your help to contact your elected officials to urge them extend the expired pro-growth tax provisions on a permanent or multi-year basis. Please also join the conversation on social media by using #TaxReliefTuesday to urge Congress to act on tax extenders to promote #JobsandGrowth.
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.
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