The Plastics Industry Association (PLASTICS) applauds Chairman Jason Smith (R-MO) for introducing H.R. 3938, the Build It in America Act, as part of the House Ways and Means growth package and urges the inclusion and passage of key provisions that will positively impact the plastics industry.
H.R. 3938 includes a four-year delay in R&D amortization, making it easier for plastics manufacturers to create jobs while encouraging innovation by expanding research and development (R&D) investments. The legislation also promotes manufacturing jobs along the entire plastics value chain by extending 100% bonus depreciation for the purchase of new equipment.
“The provisions, included in the Build It in America Act, are important steps towards increasing R&D investments and manufacturing capacity to help the plastics industry create more jobs, innovate, and engineer new ways to make plastic even more sustainable,” said Matt Seaholm, PLASTICS’ President and CEO. “Now it’s time for Congress to step up, set aside partisan differences and protect the American worker and American manufacturing by including these provisions, which will have a major impact on our industry and economy.”
