Important Tax Relief Legislation Needs Your Support NOW!

Did you know that the U.S. House passed tax relief that would improve the Research and Development tax credit, so the full deduction of the investment cost can take place in the year that it occurred? According to ESA, it also would, temporarily, provide bonus depreciation for 100% of purchases made for equipment and short-lived capital assets.

Some TMA members would also benefit from an increase in the portion of interest on borrowed capital eligible to be deducted from businesses’ income taxes. It raises the cap to 30% of EBITDA (earnings before interest, taxes, depreciation, and amortization) rather than 30% of EBIT (earnings before interest and taxes).

However, the U.S. Senate has not moved on the bill (even with the overwhelmingly bi-partisan support in the House).

Send a message to your Senators now to request passage of this legislation now!

Send a letter to your Senator through ESA at https://www.votervoice.net/ESA/campaigns/112783/respond