Reston, VA – In nothing short of historic fashion, Congress has enacted legislation making enhanced and indexed Section 179 Expensing and the R&D Research Tax Credit permanent. The same legislation also extends Bonus Depreciation for five years, retroactive to January 1, 2015 through December 31, 2019, and delays for two years the imposition of the ACA (Affordable Care Act) 40% (so-called Cadillac) tax on "high-cost" employer provided health insurance benefits, all high NPES government affairs priorities.

"These are fantastic gains for NPES members, their customers and all capital goods manufacturers" said NPES President Ralph Nappi. "They are the result of years of NPES advocacy, and were brought in sharp focus at this year's PRINT'S VOICE 15 Capitol Hill Fly-In in June," noted Nappi, to which he added, "I congratulate and thank all who contributed to bringing this legislation to fruition by their personal and corporate commitment to the betterment of their own businesses, employees, and customers, as well as their association and industry colleagues."

These developments closely follow other significant NPES Government Affairs accomplishments that have occurred in the past several months, including:  reauthorization of the Export-Import Bank, completion of the negotiations on the Trans-Pacific Partnership (TPP) trade agreement; and, enactment of Trade Promotion Authority (TPA) for President Obama and the next president.  According to NPES Government Affairs Director Mark Nuzzaco, these victories "set the stage and focus for NPES Government Affairs efforts in 2016, including laying the foundation for making Bonus Depreciation permanent in comprehensive tax reform, enacting the Transpacific Partnership (TPP) trade agreement; and, advancing the Transatlantic Trade and Investment Partnership (TTIP)." 

NPES thanks congressional leaders, other members of congress and the president for their leadership and support of these much needed and long-awaited changes to the tax code and U.S. trade laws, which will greatly facilitate productivity improving capital investment, a stronger U.S. economy, and much enhanced export opportunities for NPES members and other U.S. manufacturers. Additionally, NPES encourages its members and others to also thank their elected representatives in Washington, DC. who voted for these important measures.