December 21, 2017
CRANE Applauds Tax Reform That Protects MACRS and Expands Cost Recovery To Promote Domestic Investment and Create Jobs
Kevin Dempsey, Senior Vice President for Public Policy at the American Iron and Steel Institute and spokesman for the CRANE Coalition, issued the following statement about Congressional approval of the Tax Cuts and Jobs Act:
“The CRANE coalition applauds Congress for completing an historic tax reform that will generate more domestic investment, greater economic growth and new jobs.
“The Tax Cuts and Jobs Act represents a remarkable change in policy focus in a very short period of time. Just three years ago the leading tax reform proposal would have ended accelerated depreciation to try to pay for other tax changes. Thanks in part to persistent data-driven advocacy, policymakers soon recognized that this approach would have reduced incentives to invest in manufacturing here at home and led to burgeoning budget deficits down the road.
“The CRANE coalition and its members are proud to have played an important role in Congress’ move toward the better, pro-growth approach of protecting MACRS and accelerating cost recovery. CRANE produced insightful research and engaged with Members of Congress on both sides of the aisle to define the positive role cost recovery plays in promoting capital investment, job creation and economic growth here at home. American businesses and workers will benefit from the inclusion of those policy tools in the final bill.”
The Cost Recovery Advances the Nation’s Economy (CRANE) Coalition is made up of American companies and associations focused on preserving accelerated depreciation to provide the capital needed to continue driving America’s economic growth and job creation here at home.