ACC strongly supported comprehensive tax reform as a way to promote domestic investment, new jobs and U.S. competitiveness. Some proposals seeking to change provisions of the Tax Cuts and Jobs Act would lead to increased costs and administrative burdens for U.S. chemical manufacturers.
Tax
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- Preserving TCJA Provisions Vital to U.S. Manufacturing Growth and Innovation
- Increasing the Corporate Tax Rate of the TCJA Would Harm U.S. Competitiveness
- Restore Immediate R&D Expensing to Support U.S. Manufacturing Innovation
- End TCJA’s Strict Limitation on Deductibility of Business Interest Expense
- Restore TCJA Provision Allowing Full Expensing for Capital Investments
- Oppose Changes in the Taxation of Global Intangible Low-Taxed Income (GILTI)
- Retain and Strengthen the Foreign-Derived Intangible Income (FDII) Deduction
- Key IRA Tax Credits, CHIPS Act Support U.S. Manufacturing Expansion & Innovation
- Why the Superfund Excise Tax on Chemicals Should Be Repealed
- Economic Impact of a Repeal of the Superfund Tax on Chemicals for US Manufacturers
Chemicals most burdened by Superfund excise taxes – with their supply chains:
$32.6
Billion in capital investment to support U.S. chemical production
$12.7
Billion invested in research and development of chemistry
Latest News
ACC, Other Industry Groups and Taxpayer Advocacy Organizations: Use Budget Reconciliation to Pass the Chemical Tax Repeal Act
Two letters urging Congress to repeal the Superfund excise taxes that are hurting American jobs, domestic manufacturing and competitiveness
