(ROSSLYN, Va.) The National Electrical Manufacturers Association (NEMA) joined other businesses, non-profit organizations, and associations in calling on Congress to act quickly to pass legislation that would extend tax provisions that are slated to expire at the end of 2011.
In today’s broad tax extender letter, the signatories noted that even though Congress has begun to consider tax reform proposals, businesses and organizations are planning now for 2012 and beyond. It is important that the current tax system provide certainty in the interim.
Further, the lack of timely congressional action to extend the provisions would inject more instability and uncertainty into the economy and further weaken confidence in the employment marketplace.
Expiring tax provisions that of importance to the electroindustry include those affecting plug-in electric vehicles, research and development, energy-efficient home construction, additional first-year 100 percent depreciation for certain improvements, and 15-year straight line cost recovery for qualified leasehold improvements.
Download a copy of the 2011 Broad Tax Extender Letter.
NEMA is the association of electrical equipment manufacturers, founded in 1926 and headquartered in Arlington, Virginia. Its member companies manufacture a diverse set of products including power transmission and distribution equipment, lighting systems, factory automation and control systems, and medical diagnostic imaging systems. Worldwide annual sales of NEMA-scope products exceed $120 billion.
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