Smith Bill to Bring Certainty to Small Businesses Lauded by NTU as "No-Brainer"

Press Release

Today, Rep. Adrian Smith's (R-NE) legislation, the Permanently Preserving America's Investment in Manufacturing Act, was named one of National Taxpayers Union's (NTU) No Brainer bills for 2022. Each year, NTU releases a "No Brainer" list of commonsense bills Congress should pass.

Smith released the following statement:

"A pro-growth tax code is good for American job creators and it's good for American consumers," said Smith. "Aside from being a commonsense measure that will help taxpayers, this legislation underscores that Congress can still work to move good policy in a bipartisan way. As we work to address our supply chain crisis, capital intensive industries like manufacturing and transportation need to know the cost of new investments -- and that those costs will be deductible. I hope we can act soon on a bipartisan basis to bring them that certainty."

Andrew Lautz, NTU's Director of Federal Policy, released the following statement on behalf of NTU:

"It's critically important for lawmakers to protect American companies from being punished by the tax code for making pro-growth investments in their workers," said Lautz. "Congressman Adrian Smith's Permanently Preserving America's Investment in Manufacturing Act would do just that, which is why NTU is proud to include it in our annual list of bipartisan No Brainer legislation. We applaud Congressman Smith for his leadership on these and other taxpayer-friendly policies."

The Permanently Preserving America's Investment in Manufacturing Act would provide capital intensive small businesses certainty by permanently increasing the amount of business interest they could deduct annually.

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