IPC Optimistic After U.S. Senate Passes Tax Reform Bill


Reading time ( words)

IPC – Association Connecting Electronics Industries is optimistic about the prospects for U.S. tax reform following the U.S. Senate’s approval of a sweeping bill this weekend.

The Senate bill lowers the corporate tax rate to 20% effective on January 1, 2019; allows full and immediate expensing of capital investments placed in service between September 27, 2017 and December 31, 2022; and increases the Section 179 small business expensing cap to $1 million with a phase-out starting at $2.5 million. The approved bill also allows many small businesses that are organized as “pass through” companies to claim a 23% deduction for the non-wage portion of pass-through income.

There are significant differences between the tax reform bills passed by the Senate this past weekend and by the U.S. House of Representatives in November, creating a need for congressional leaders to iron out those differences before a final vote can occur. Several political obstacles still exist, but most observers believe the Congress and President Trump will overcome them by the end of 2017 or early 2018.

“IPC believes that U.S. tax reform is critical to long-term growth and innovation in the global electronics industry,” said John Mitchell, IPC president and CEO. “Working with our members, we have advocated for a tax reform package that cuts the corporate tax rate while keeping robust incentives for innovation. The current efforts in Congress are moving in the that direction. In the days ahead, we will continue to work with our friends on Capitol Hill to advocate for our members’ interests in this legislation.”

Share


Suggested Items

Institute of Circuit Technology Harrogate Seminar 2017

12/13/2017 | Pete Starkey, I-Connect007
A return to the historic spa town of Harrogate in Yorkshire, England for the Institute of Circuit Technology Northern Seminar, to enjoy a diverse programme of presentations on safety standards, research in selective metal deposition, and developments in imaging and inspection techniques.

RTW…HKPCA & IPC Show 2017 Highlights With Canice Chung

12/08/2017 | Real Time with...HKPCA and IPC
Canice Chung, chairman of the HKPCA, speaks with Managing Editor Stephen Las Marias about the record-breaking show, held this week in Shenzhen, China.

HKPCA & IPC Show 2017: IPC Asia’s Philip Carmichael on the Changes in PCB Value Chain

12/07/2017 | Real Time with...HKPCA and IPC
During the 2017 International Printed Circuit & APEX South China Fair (HKPCA & IPC Show 2017) in Shenzhen, IPC Asia President Philip S. Carmichael speaks with I-Connect007 Managing Editor Stephen Las Marias about the move in the value chain that’s driving the electronics manufacturing industry forward.



Copyright © 2017 I-Connect007. All rights reserved.