Thu November 9, 2017

Plastics Industry Association (PLASTICS) President and CEO William Carteaux issued the following statement on the current state of the House and Senate tax reform bills.

“Though they differ on some important points, we’re encouraged by the fact that both the House and Senate tax reform packages contain provisions that will deliver a great deal of value to our membership and to the plastics and manufacturing industries at large.

For instance, the amended H.R. 1, the Tax Cuts and Jobs Act, that was reported out today further refines the tax rate for pass-through businesses of all sizes. This will ultimately encourage companies to invest, hire new workers and increase wages. In the Senate proposal, also released today, the provision that would make immediate, 100-percent expensing of capital investments permanent would give companies across the country the certainty they need to invest in expanding their business. This has the potential to unleash an outbreak of job growth, particularly in manufacturing.

We look forward to continuing our work with the Administration and with bipartisan leadership in Congress to deliver the best possible tax reform package to American plastics manufacturers and the nearly one million workers that depend on our industry.”