IPC Optimistic After U.S. Senate Passes Tax Reform Bill
December 5, 2017 | IPCEstimated reading time: 1 minute
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.”
Suggested Items
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
04/26/2024 | Andy Shaughnessy, Design007 MagazineIn this week’s roundup, we have a variety of articles covering everything from design through assembly, and even box build. I’ve always wondered whether box build was all it was cracked up to be. Do customers really pick one EMS provider over another because one company offers box build? And if you’ve ever wanted to volunteer, IPC’s Thought Leaders Program is looking for a few good technologists to help them on their mission. Check out Stanton Rak’s article, which was published in the spring issue of IPC Community.
Stan Rak: Elevating the Ideas and Insights of IPC's Thought Leaders Program
04/25/2024 | Stanton Rak, SF Rak CompanyAs a member of the IPC Thought Leaders Program (TLP), I am responsible for identifying knowledge-sharing opportunities that can generate ideas and insights that strengthen the IPC community as well as create a sustainable and lasting future for its members. I am delighted to highlight some of my recent contributions as a member of the TLP.
Alternative Manufacturing Inc. Awarded QML Requalification to IPC J-STD-001 and IPC-A-610
04/24/2024 | IPCIPC's Validation Services Program has awarded an IPC J-STD-001 and IPC-A-610 Qualified Manufacturers Listing (QML) requalification to Alternative Manufacturing Inc (AMI).
IPC Design Competition Champion Crowned at IPC APEX EXPO 2024
04/24/2024 | IPCAt IPC APEX EXPO 2024 in Anaheim, California, five competitors squared off to determine who was the best of the best at PCB design.
Big Win for Defense Production Act Budget Allocation in FY24 Budget
04/23/2024 | I-Connect007 Editorial TeamOne year ago, President Biden issued a determination that chips and packaging are critical for national security. Since that time, much work has been done to continue the conversation in Washington, elevating the importance of the entire chips value chain, and including printed circuit boards and substrates, without which chips cannot operate.