The Plastics Industry Association (PLASTICS) applauds Chairman Jason Smith (R-MO) and the House Ways and Means Committee for advancing tax provisions that support U.S. manufacturing, drive innovation, and promote long-term certainty and job creation.
“We appreciate Chairman Smith’s commitment to strengthening the manufacturing sector and advancing key provision that helps businesses reinvest, expand, and create jobs here in the United States,” said Matt Seaholm, President and CEO of PLASTICS. “America continues to lead the world in manufacturing excellence, and reinforcing that leadership through pro-growth tax policy is essential to sustaining long-term innovation and competitiveness.”
“The plastics industry plays a foundational role in the U.S. economy, supporting more than one million jobs and contributing over $548 billion annually. Pro-growth tax policies provide the certainty our companies need to drive further progress, whether through packaging innovations, investments in advanced recycling, or expanded domestic manufacturing. These provisions are vital to accelerating our industry’s impact and leadership,” concluded Seaholm.
The legislation includes several top priorities for the plastics industry and the broader manufacturing economy:
- Restores full and immediate expensing for R&D—allowing companies to accelerate product development, improve sustainability, and remain competitive.
- Extends 100% bonus depreciation for capital equipment purchases—supporting modernization of manufacturing lines, including high-efficiency and precision machinery.
- Preserves the globally competitive 21% corporate tax rate—essential for attracting investment and maintaining U.S. manufacturing leadership.
- Enhances the Section 199A pass-through deduction—providing meaningful tax relief to the small and medium-sized manufacturers that make up the bulk of the U.S. manufacturing industry.
- Increases Section 179 expensing thresholds—helping smaller firms immediately deduct equipment purchases and reinvest faster.
- Protects interest deductibility rules, ensuring continued access to capital for plant upgrades and facility expansions.
PLASTICS urges Congress to build on this progress and move swiftly to enact measures that deliver certainty, reward investment, and protect American manufacturing jobs. PLASTICS looks forward to continued engagement with lawmakers to advance pro-growth policies that strengthen American manufacturing.
