Thu November 2, 2017

WASHINGTON—Plastics Industry Association (PLASTICS) President and CEO William Carteaux issued the following statement on the Tax Cuts and Jobs Act released by House Republican leadership today.

“Earlier this year during the 2017 Plastics Industry Fly-In, men and women from around the country who depend on America’s plastics manufacturing industry came to Washington to advocate for measures that would help create jobs and make their industry more globally competitive. Among those priorities were a lower corporate tax rate, immediate expensing of capital investments and the preservation of the research and development (R&D) tax credit.

There are several key provisions in the Tax Cuts and Jobs Act that will help the new manufacturing economy, and assist our members in their effort to continue to succeed, grow and create jobs. We support the inclusion of a lower corporate tax rate, comparable treatment for S corps, and the immediate expensing of capital investments. Furthermore, the preservation of the R&D tax credit is critical, and we are pleased with the ability to use 529 education savings for apprenticeship programs, a concept that we discussed with policymakers at our Fly-in.  Allowing families to use post-secondary education savings for good-paying, quality career options in the manufacturing sector will help address the industry workforce needs and help provide career options for those who may not best be served by four-year university degree programs.

We look forward to continuing our work with the administration and bipartisan leadership in Congress as this important tax package moves forward in the coming weeks.”