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ACC Comments in Response to House W&M Hearing on the Success of the TCJA 

As we have been advocating for years, ACC urges Congress to take action now to restore immediate R&D expensing, revert to pre-2022 Section 163(j) interest deduction limitation based on EBIDTA and extend the full expensing provision. Taking such action through passage of the Tax Relief for American Families and Workers Act has bipartisan support and has the support of U.S. manufacturers including ACC members.

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American Chemistry Council

The American Chemistry Council’s mission is to advocate for the people, policy, and products of chemistry that make the United States the global leader in innovation and manufacturing. To achieve this, we: Champion science-based policy solutions across all levels of government; Drive continuous performance improvement to protect employees and communities through Responsible Care®; Foster the development of sustainability practices throughout ACC member companies; and Communicate authentically with communities about challenges and solutions for a safer, healthier and more sustainable way of life. Our vision is a world made better by chemistry, where people live happier, healthier, and more prosperous lives, safely and sustainably—for generations to come.