Reston, VA - NPES President Thayer Long commends the GOP tax reform framework announced September 27 by President Donald J. Trump and House and Senate leaders as a solid starting point, which provides full and immediate expensing of capital investment, including for new cutting-edge printing, publishing, converting and mailing technology. “This framework’s focus on economic growth and jobs, along with its inclusion of full and immediate expensing, reflects one of NPES’ top government affairs priorities, for which the Association has advocated for many years,” said Long. “Full and immediate expensing is the single-most powerful pro-growth, job-producing provision in the entire framework.” But Long cautioned, “as with all legislation, details matter, so NPES will closely monitor the legislative process, provide more analysis as specific information emerges, and weigh-in where needed.”
Additionally, NPES Vice President, Government Affairs Mark J. Nuzzaco stated that, “NPES member company executives and their employees should be prepared to advocate directly with their members of congress when the time is ripe.”
Summarized, the GOP tax reform framework includes the following business-related provisions supported by NPES:
• Full and Immediate Expensing of Capital Investment: The single-most powerful pro-growth, job-producing element of the proposal, full and immediate expensing, could grow the long-run size of the U.S. economy by 4.2 percent, which would lead to 3.6 percent higher wages and over 800,000 full-time jobs – The Tax Foundation – part of which would result from increased investment in printing, publishing, converting and mailing technology.
• Lower Corporate Tax Rates, Including Pass-Through Entities: Provides a top corporate rate of 20%, and 25% for pass-through entities, which comprise the majority of smaller businesses and are the source of many jobs, including those in the printing, publishing, converting and mailing industries.
• Repeal of the Estate Tax: Provides for the preservation, continuity, and economic feasibility of transferring family-owned businesses from one generation to the next, and
• Retention of the Research & Development Tax Credit: Providing for the retention of the R&D tax credit that facilitates technological innovation and the new jobs that flow from it.
For more information contact NPES Vice President, Government Affairs Mark J. Nuzzaco at phone: 703/264-7235, or email: [email protected].