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THE VOICE OF THE MERIT SHOP

ABC is the voice of the merit shop on Capitol Hill! Sending letters to Congress allows ABC to publicly advocate for the views and interests of our more than 23,000 members. By corresponding with U.S. House of Representatives and Senate members, ABC promotes fair and open competition in the construction industry and fights to protect merit shop contractors around the country.

ABC Calls on Congress to Make TCJA Provisions Permanent

On Jan. 17, the U.S. House of Representatives Committee on Ways & Means held a hearing focused on the family and business provisions included in the Tax Cuts and Jobs Act. Ahead of the hearing, ABC sent a letter to the committee emphasizing the significance of making permanent the provisions of the TCJA for America’s working families.

In the letter, ABC urged the committee to support the following critical tax policies, which are vital to the continued success and economic prosperity of our industry:

  • Maintaining parity for pass-through entities (TCJA Section 199A)
  • Continuation of TCJA estate tax treatment
  • Revived expensing of R&D costs
  • Restoration of 100% bonus depreciation
  • Opposition to exclusionary labor mandates in IRA green tax credits

In the hearing, there was increased focus on addressing the looming expiration of the Section 199A deduction, which, if allowed to expire, would result in a 20% increased tax on pass-throughs, while C-corps and publicly traded companies will continue to enjoy their lower, 21% permanent rate.

For more information on the hearing, see ABC Newsline.