Negotiations Pick Up on Tax Deal

As part of ABI’s October 2023 Washington, DC trip, ABI members met with our national partners at the National Association of Manufacturers (NAM) and all members of the Iowa delegation.Top of list in meetings was ABI advocacy for extending three business tax policies passed as part of a 2017 tax policy bill that have expired or are scheduled to expire. These include the tax treatment of R&D expenses, accelerated depreciation and interest expenses.

All members of the delegation were supportive and Congressman Randy Feenstra, who serves on the House Ways and Means Committee, described a path forward for enactment. He envisioned a tax policy bill that included the needed business tax extenders combined with child care tax credits advocated by other groups.

The Feenstra prediction seems to be taking shape and such a compromise could be announced this coming week. 

For reporting from the nation’s capitol on this issue click here.