The federal tax and spending bill recently signed into law by President Trump includes several pieces of legislation that will impact manufacturers in our region and across the nation. As an association representing hundreds of manufacturers and businesses, we thank Congress and the President for passing legislation that will allow research and development costs to be immediately deducted, as well as make permanent the estate tax exemption and the 20% small business tax deduction. Additionally, we are optimistic that the Advanced Manufacturing Investment Credit that was championed by U.S. House Representative Claudia Tenney and other representatives in Congress will significantly help to expand domestic semiconductor manufacturing— critical to our region’s continued economic growth.

From the beginning, MACNY’s government relations team joined nationwide coalition efforts and letters to voice support for the pro-manufacturing provisions of the Tax Cuts and Jobs Act. We will continue to support pro-growth tax policies that will enhance the competitiveness of the American economy.