Plastics Industry Applauds Senate for passing key legislation.
Press Release Summary:
In his statement on U.S. Senate's passage of key tax measures, SPI's William R. Carteaux praised permanent extension of R&D Tax Credit, extended Bonus Depreciation, permanently extended Section 179 Small Business Expensing, and 2-year moratorium on Medical Device Excise Tax. Carteaux said that these provisions help ensure businesses throughout plastics industry value chain can invest with certainty as well as contribute to furthering U.S. economic growth and technological innovation.
Original Press Release:
Plastics Industry: We Applaud the Senate Today
WASHINGTON — William R. Carteaux, the president and CEO of SPI: The Plastics Industry Trade Association, which represents the $427-billion U.S. plastics industry, issued the following statement on today’s Senate action:
“The U.S. Senate voted today to deliver a huge benefit to America’s economy by passing several key tax measures. They will permanently extend the Research & Development Tax Credit, extend “Bonus Depreciation,” permanently extend Section 179 “Small Business Expensing” and a grant a two-year moratorium on the Medical Device Excise Tax. Combined, these provisions help ensure that businesses throughout the plastics industry value chain can invest with certainty and keep the U.S. on the cutting edge of economic growth and technological innovation.
“We urge President Obama to sign this bipartisan legislation without delay.”
Founded in 1937, SPI: The Plastics Industry Trade Association promotes growth in the $427 billion U.S. plastics industry. Representing nearly one million American workers in the third largest U.S. manufacturing industry, SPI delivers legislative and regulatory advocacy, market research, industry promotion and the fostering of business relationships and zero waste strategies. SPI also owns and produces the international NPE trade show. All profits from NPE are reinvested into SPI’s industry services. Find SPI online at www.plasticsindustry.org and www.inthehopper.org.
"From resin suppliers and equipment makers to processors and brand owners, SPI is proud to represent all facets of the U.S. plastics industry," said William R. Carteaux, president and CEO, SPI. "Our most recent economic reports show that the plastics industry as a whole is resilient, and has come through the recession significantly better than other U.S. manufacturing sectors."
