The Plastics Industry Association (PLASTICS) has voiced strong support for new tax measures advanced by the House Ways and Means Committee aimed at strengthening U.S. manufacturing. Key provisions include a four-year extension allowing businesses to immediately deduct research and development (R&D) expenses, along with the continuation of 100% bonus depreciation for equipment purchases.
Matt Seaholm, President and CEO of PLASTICS, emphasized that these changes will incentivize innovation, create jobs, and enhance the global competitiveness of the U.S. plastics sector. He urged Congress to act swiftly to pass the legislation.
Part of the broader “Build It in America Act,” the proposed measures are designed to revitalize domestic manufacturing and fuel economic growth. PLASTICS remains committed to advocating for policies that advance a resilient, innovative, and sustainable plastics industry.