America’s Job Creators Express Strong Support for PATH Act

"This is easily the most positive thing Congress has done for small business in the past several years."
December 17, 2015 — Press Releases   
Committee Activity    Tax Reform   

On Tuesday, House Ways and Means Chairman Kevin Brady announced the Protecting Americans from Tax Hikes (PATH) Act. Job creators across the country immediately praised the bill and said that it will make it easier for them to plan ahead, hire new workers, grow their businesses and invest in their communities:

Delivers Long Term Certainty
“The Chamber has been urging Congress to make permanent many of these perennially-renewed tax provisions for years, if not decades.  The Chamber applauds Congress for finally acting to provide long-term certainty for the business community.  This accomplishment cannot be overstated.” Chamber of Commerce

“Congress and the Administration demonstrated bipartisan leadership in reaching agreement on a deal that will create the kind of long-term certainty that encourages investment, innovation, economic growth and jobs. The importance of this agreement, which includes permanent tax extenders, cannot be overstated. We strongly urge immediate action on this package.” Business Roundtable

“This is easily the most positive thing Congress has done for small business in the past several years and it will ripple through the economy in the form of new investments and more jobs…The tax benefit encourages businesses to make big investments and the permanency creates predictability. Our research predicts that we’ll see hundreds of thousands of new jobs as a result.” National Federation of Independent Business

Prevents Tax Increases
“Permanent and multiyear extensions of the expired investment incentives will help manufacturers of all sizes, producing a positive ripple effect throughout the economy. The agreement will encourage businesses to invest in the capital equipment and machinery that will increase efficiency, productivity and growth—thanks to the permanent extension of enhanced Section 179 expensing and the multiyear extension of 50 percent first-year expensing.” National Association Manufacturers  

“On behalf of the 64 member companies of the Information Technology Industry Council (ITI), I write to express our strong support for the Protecting Americans from Tax Hikes (PATH) Act. ITI has long advocated for continued extensions of the R&D and the controlled foreign corporation (CFC) Look-Through provisions. We are pleased to see that this critical legislation makes permanent the R&D credit and extends CFC Look-Through for five years.” Information Technology Industry Council.” Information Technology Industry Council

Grows our Economy
“The extension of these tax provisions is essential to the U.S. economy, supporting global growth and spurring job creation. If enacted, we are confident this legislation will have a positive impact not only for our business, but for our small business customers as well. We strongly encourage Congress and the Administration to work together to enact this vital legislation as soon as possible.” United Parcel Service

“The Protecting Americans from Tax Hikes Act of 2015 provides exactly what the United States needs right now: a sensible assessment of tax policies that actually work to make our economy more productive. This legislation makes some economically sound provisions of our tax code permanent and phases out others. RATE believes the PATH Act represents an important step toward achieving comprehensive tax reform.” RATE Coalition

“The extension included in the PATH Act will ensure the delivery of more than $30 billion in new investments in businesses and projects in distressed neighborhoods and towns.   Communities will put these dollars to work, creating tens of thousands of jobs through nearly 2,000 projects.” New Markets Tax Credit Coalition

Serves as a Bridge to Comprehensive Tax Reform
“The multi-year extenders agreement provides retailers with immediate relief and certainty, and lays the groundwork for comprehensive tax reform. RILA is a steadfast supporter of enacting comprehensive tax reform – corporate, individual, and international. Retailers pay the highest effective tax rate and need comprehensive, base-broadening, rate-reducing reform. This week’s vote continues the path forward to achieving this goal.” Retail Industry Leaders Association

“By making the R&D credit permanent among other pro-manufacturing, long-term tax provisions included in this bill, Congress will ensure the U.S. remains a global leader in technology and innovation and takes a necessary first step towards comprehensive tax reform.” Raytheon