The One Big Beautiful Bill Boosts Made-in-America Manufacturing
Washington, D.C.--The One Big Beautiful Bill Act powers made-in-America manufacturing with key provisions like full expensing for research and development, capital investments and new factories.
“This bill contains crucial provisions to incentivize companies to build, invest and innovate in America” said Finance Committee Chairman Mike Crapo (R-Idaho). “With full expensing for research and development and factory structures, the U.S. will remain the best place in the world to do business.”
Key wins:
- No tax on auto loan interest for new cars made in the U.S.
- Full expensing for new factories and factory improvements to accelerate domestic manufacturing.
- Full expensing for domestic R&D to encourage domestic innovation.
- Full expensing for new capital investments, like machinery and equipment, to boost domestic production.
What they are saying:
“As the global economy has become increasingly competitive, both the Administration and Congress have been clear on their objective to ensure the United States leads the world in manufacturing. H.R. 1 delivers on that goal—and with pro-growth tax policies nearing enactment, manufacturers stand ready to continue investing in America.” - National Association of Manufacturers
“Capital investment is crucial for economic growth and job creation in the American steel industry and the manufacturing sector as a whole. Many of the key capital cost recovery provisions of the 2017 tax law have expired or are being phased out. Restoring these provisions is essential to ensuring that many companies will be able to make new investments in steel-intensive facilities and machinery. We applaud Senate passage of this legislation which will permanently restore key provisions that have a proven record of fueling innovation and economic growth, including 100 percent bonus depreciation for business investment, immediate expensing for domestic research and development expenses and the EBITDA-based limitation on business net interest deductions.” - American Iron and Steel Institute President and CEO Kevin Dempsey
“The Association of Equipment Manufacturers applauds the U.S. Senate’s passage of the One Big Beautiful Bill (OBBB) Act—a historic bill that will strengthen U.S. manufacturing, providing the certainty in the tax code necessary for equipment manufacturers to innovate, invest and create more family-sustaining jobs right here in America.” - Association of Equipment Manufacturers SVP of Government and Industry Relations Kip Eideberg
Click HERE to learn more about the Finance Committee provisions in the One Big Beautiful Bill Act.
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