WASHINGTON, D.C. – Ways and Means Committee Tax Teams’ members rounded out the August district work period by continuing events across the United States and have kept the drumbeat going now that Congress has returned to D.C. In total, the Tax Teams have held over 90 events across 17 states to hear first-hand the consequences of the Biden-Harris $7 trillion planned tax hike, including the expiration of the Trump tax cuts, and how Congress can implement pro-growth tax policies that will help American families, small businesses, farmers, and manufactures to succeed.
American Manufacturing
The American Manufacturing Tax Team, led by Rep. Vern Buchanan (FL-16), visited two auto part and technology manufacturers in the Detroit, Michigan area to hear how vital good U.S. tax policy is to the ability of manufacturers to compete globally. Members joining Rep. Buchanan in Detroit included Ways and Means Committee member, Rep. Kevin Hern (OK-01), as well as Reps. Rudy Yakym (IN-02), Mike Collins (GA-10), and Victoria Spartz (IN-05).
Photo: David Bohrer / National Assoc. of Manufacturers
Main Street
The Main Street Tax Team, led by Rep. Lloyd Smucker (PA-11) and joined by Reps. Kevin Hern (OK-01), Ron Estes (KS-04), and Greg Murphy (NC-03), met with small business leaders to learn more about how important the Section 199A 20 percent small business deduction, which expires next year, is to their ability to hire new employees and grow their businesses. The group discussed a recent study that shows how the 199A deduction supports 2.6 million jobs, contributes $161 billion to employee compensation, and adds $325 billion to the U.S. GDP.
U.S. Innovation
U.S. Innovation Tax Team Chair, Rep. Ron Estes (KS-04), met with Harper Industries in his home state of Kansas to hear about the challenges the company has faced since the expiration of immediate expensing for research and development (R&D) expenses. Rep. Estes shared how the Ways and Means Committee is working to restore R&D expensing, including passing legislation in the U.S. House to do so, as well as other expired or expiring tax provisions that have helped small businesses in the United States grow and create good-paying jobs.
Global Competitiveness
Global Competitiveness Tax Team Chair, Rep. Kevin Hern (OK-01), joined by Reps. Ron Estes (KS-04), Carol Miller (WV-01), Randy Feenstra (IA-04), and Blake Moore (UT-01), hosted stakeholders from the U.S. energy industry on Capitol Hill to discuss the international tax issues the energy industry faces. During the meeting, the group shared how Congress can build on the success of the Trump tax cuts to allow energy producers in the United States to increase productivity, compete globally, and bring down energy costs that have soared under the Biden-Harris Administration.
