President Obama proposes revisions to taxes for domestic manufacturers; comment from the Alliance for American Manufacturing.
President Obama is looking for ways to revise the U.S. tax code in order to help America's manufacturers, including a proposal that would set the maximum effective tax rate for manufacturers at 25 percent.
The Alliance for American Manufacturing (AAM) has consistently advocated policies to help revitalize the U.S. industrial base, including:
- Expand and make permanent clean energy manufacturing tax credits and industrial energy
efficiency grants to allow America to lead on green job creation;
- Make permanent the research and development tax credit and enhance it to incentivize
commercialization and production in America;
- Adopt immediate, up-front expensing rules for plant and equipment to spur capital
Of the President's proposals, AAM Executive Director Scott Paul commented:
"We’ll be closely examining the details of the entire corporate tax reform proposal to see how it could grow jobs for American factory workers. For manufacturing, it’s a good thing to lower the tax rate for making products and employing workers in America."
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