On May 12th, the House Ways and Means Committee released a comprehensive tax package plan.
Wes Smith, President and CEO of the National Association of Electrical Distributors, provided the following statement:
Tagged with Biggest News, NAEDThe businesses we represent—located in every state and Congressional district—have seen firsthand how the Tax Cuts and Jobs Act (TCJA) has fueled growth across the electrical distribution industry, from small enterprises to large distributors. By lowering marginal tax rates, enhancing expensing provisions, increasing the estate tax threshold, and establishing the 20% small business deduction under Section 199A, the TCJA has been a powerful catalyst for economic progress.
We applaud the pro-business, pro-growth tax provisions, including the Section 199A deduction, enhancements to the 179 expensing, modifications to the Estate Tax, and the temporary restoration of Bonus Depreciation.
We understand the difficult job the Committee members have in front of them given the fiscal challenges we face, but NAED and our members reiterate that our industry—and others—has benefited from numerous energy and manufacturing tax incentives that are actively helping to modernize America’s homes, commercial buildings, and supply chains. Key among these are the Section 25C Energy Efficient Home Improvement Credit, 45L the New Energy Efficient Home Credit, and 45X, the Advanced Manufacturing Production Credit.
As the Senate continues the reconciliation process, we urge policymakers to preserve these vital drivers of economic activity. These incentives not only support American families and businesses but also advance our nation’s energy modernization and domestic manufacturing goals. Including them in the final package will strengthen America’s pursuit of energy leadership and economic resilience.