IPC Applauds Congress on Passing the Tax Cuts and Job Act


Reading time ( words)

IPC – Association Connecting Electronics Industries applauds Congress for passing the Tax Cuts and Jobs Act, which received its final stamp of approval from the House today, following Senate approval yesterday. The bill now heads to President Trump for his signature, which is expected within days. 

“IPC congratulates Congress for its action in passing comprehensive tax reform,” said John Mitchell, IPC president and CEO. “The former tax code was overly complex and not conducive to U.S. global competitiveness. IPC believes this reform will promote competitiveness and innovation in the U.S. electronics manufacturing industry, and it will have spillover benefits to the rest of the world, as well. We look forward to helping our members understand the changes, and continuing our advocacy work in support of policies that encourage broad-based economic growth.”

Several provisions in the bill were actively supported by IPC. Among those, the bill lowers the corporate tax rate from 35% to 21%; allows full and immediate expensing of capital investments placed in service between September 27, 2017 and January 1, 2023; and safeguards the R&D tax credit. The bill also allows many small businesses that are organized as “pass through” companies to claim a 20% deduction for the non-wage portion of pass-through income.

About IPC

IPC is a global industry association based in Bannockburn, Ill., dedicated to the competitive excellence and financial success of its 4,300 member companies which represent all facets of the electronics industry, including design, printed board manufacturing, electronics assembly and test. As a member-driven organization and leading source for industry standards, training, market research and public policy advocacy, IPC supports programs to meet the needs of an estimated $2 trillion global electronics industry. IPC maintains additional offices in Taos, N.M.; Washington, D.C.; Atlanta, Ga.; Brussels, Belgium; Stockholm, Sweden; Moscow, Russia; Bangalore and New Delhi, India; Bangkok, Thailand; and Qingdao, Shanghai, Shenzhen, Chengdu, Suzhou and Beijing, China.

Share

Print


Suggested Items

ICT 45th Annual Symposium Review

06/12/2019 | Pete Starkey, I-Connect007
The Institute of Circuit Technology (ICT) held its 45th annual symposium on June 4, 2019 in Dudley at the Black Country Museum—a symbol of the spirit of innovation in engineering technology and the entrepreneurial and manufacturing skills that had established that region’s supremacy in leading the original Industrial Revolution. Here's a recap of the events and presentations at the symposium.

IMPACT Washington, D.C. 2019 Recap: Leaders Call for Action on USMCA Trade Deal

05/30/2019 | Chris Mitchell, IPC VP, Global Government Relations
Top executives from electronics companies across the United States were in Washington, D.C., last week to call on the Trump administration and Congress to support policies that will drive the electronics industry’s future growth in North America and worldwide.

DuPont on New Beginnings and Empowering the Industry

05/21/2019 | I-Connect007 Editorial Team
Andy Kannurpatti gives the I-Connect007 team an overview of the latest news from DuPont Electronics and Imaging, including investments toward the new production assets in Ohio, Silicon Valley Technology Center, and other facilities. He also details how the company is engaging OEMs and PCB fabricators and design teams, as well as some exciting business updates coming this spring and summer.



Copyright © 2019 I-Connect007. All rights reserved.