{"id":11380,"date":"2024-02-09T09:28:00","date_gmt":"2024-02-09T14:28:00","guid":{"rendered":"https:\/\/acmanet.org\/?p=11380"},"modified":"2024-02-09T09:28:24","modified_gmt":"2024-02-09T14:28:24","slug":"in-washington-acma-insider-february-8-2024","status":"publish","type":"post","link":"https:\/\/acmanet.org\/in-washington-acma-insider-february-8-2024\/","title":{"rendered":"In Washington \u2013 ACMA Insider \u2013 February 9, 2024"},"content":{"rendered":"<h2>House Passes R&amp;D Expensing Bill, Senate Timeline Uncertain<\/h2>\n<p>The House last week passed 357-70 the bipartisan Tax Relief for American Families and Workers Act, which included the restoration of immediate R&amp;D expensing for domestic research and innovation activities through 2025. ACMA has lobbied for passage of this restoration for two years, including strongly supporting the legislation passed last week.<\/p>\n<p>This provision is broadly used by manufacturers across the country, but is particularly important for small and medium-sized manufacturers looking to expand their businesses and grow. In a recent National Association of Manufacturers survey, 89 percent of respondents said higher tax burdens on manufacturing makes it more difficult to hire staff, buy new equipment and expand facilities.<\/p>\n<p>In addition to R&amp;D expensing, the bill also reinstates full expensing, sometimes called 100% accelerated depreciation, for business capital investments and changes to the interest deductibility standard, as well as a number of changes to income tax law.<\/p>\n<p>The bill now moves to the Senate, where it enjoys bipartisan support. The issue for Senate consideration will be timing, with multiple other bills also in line for consideration. It is unlikely this bill can be passed in time to impact the April tax season.<\/p>\n<p>Contact <a href=\"mailto:dneumann@acmanet.org\">Dan Neumann<\/a> with any questions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Biden Administration Selects Regional Hydrogen Hubs, No Action on Hydrogen Tax Credits The Biden Administration has announced seven locations for &#8230; <\/p>\n<div><a href=\"https:\/\/acmanet.org\/2023\/10\/in-washington-acma-insider-october-19-2023\/\" class=\"more-link\">Read More<\/a><\/div>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[42],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>In Washington \u2013 ACMA Insider \u2013 February 9, 2024 - American Composites Manufacturers Association<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/acmanet.org\/in-washington-acma-insider-february-8-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In Washington \u2013 ACMA Insider \u2013 February 9, 2024 - 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