IPC Applauds Congress on Passing the Tax Cuts and Job Act


Reading time ( words)

IPC – Association Connecting Electronics Industries applauds Congress for passing the Tax Cuts and Jobs Act, which received its final stamp of approval from the House today, following Senate approval yesterday. The bill now heads to President Trump for his signature, which is expected within days. 

“IPC congratulates Congress for its action in passing comprehensive tax reform,” said John Mitchell, IPC president and CEO. “The former tax code was overly complex and not conducive to U.S. global competitiveness. IPC believes this reform will promote competitiveness and innovation in the U.S. electronics manufacturing industry, and it will have spillover benefits to the rest of the world, as well. We look forward to helping our members understand the changes, and continuing our advocacy work in support of policies that encourage broad-based economic growth.”

Several provisions in the bill were actively supported by IPC. Among those, the bill lowers the corporate tax rate from 35% to 21%; allows full and immediate expensing of capital investments placed in service between September 27, 2017 and January 1, 2023; and safeguards the R&D tax credit. The bill also allows many small businesses that are organized as “pass through” companies to claim a 20% deduction for the non-wage portion of pass-through income.

About IPC

IPC is a global industry association based in Bannockburn, Ill., dedicated to the competitive excellence and financial success of its 4,300 member companies which represent all facets of the electronics industry, including design, printed board manufacturing, electronics assembly and test. As a member-driven organization and leading source for industry standards, training, market research and public policy advocacy, IPC supports programs to meet the needs of an estimated $2 trillion global electronics industry. IPC maintains additional offices in Taos, N.M.; Washington, D.C.; Atlanta, Ga.; Brussels, Belgium; Stockholm, Sweden; Moscow, Russia; Bangalore and New Delhi, India; Bangkok, Thailand; and Qingdao, Shanghai, Shenzhen, Chengdu, Suzhou and Beijing, China.

Share

Print


Suggested Items

Atotech Looks to Expand Product Portfolio

07/21/2020 | Barry Matties, I-Connect007
When Barry Matties toured Atotech’s facility in Feucht, Germany, he spoke with Andreas Schatz, Atotech’s global product manager of equipment, and Daniel Schmidt, Atotech’s global director of marketing. In this interview, Andreas and Daniel break down the global plating and chemistry trends they see, most notably around horizontal plating and smart factory automation.

A Year in Review: Cultivate New Opportunities in Crisis, Start Fresh

07/16/2020 | I-Connect007 China Team
Recently, the China Electronic Circuit Industry Association (CPCA) invited Dr. Shiuh-Kao Chiang from Prismark to present an online video report regarding the current and future impact of the current epidemic on the global electronic circuit industry. The I-Connect007 China Team attended the presentation, and the following report summarizes some of Dr. Chiang’s remarks.

Shaun Tibbals and Electra Polymer: Finding the Silver Linings in COVID-19

07/09/2020 | Nolan Johnson, PCB007
On July 8, Nolan Johnson spoke with Shaun Tibbals, sales and marketing director for Electra Polymers. Shaun discusses the Electra Polymer’s business outlook responses to the ongoing COVID-19 outbreak.



Copyright © 2020 I-Connect007. All rights reserved.