2024 Tax Package Association Support Letter

Join the below business association sign-on letter to congressional leadership supporting the recently announced “Tax Relief for American Families and Workers Act.”  This deal from the Chairs of the House Ways & Means and Senate Finance Committees restores critical pro-growth tax provisions supporting domestic R&D, interest deductibility and full expensing through 2025.

It is crucial that members of Congress hear from the business community on the importance of acting without delay to revive these pro-growth tax provisions.

Interested industry associations, state and local chambers and allied organizations are eligible to sign this letter. In the interest of showing the business community’s immediate support, the deadline to sign the letter is COB Thursday, January 18, 2024.

Please contact Alex Monié at the NAM with any questions.

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2024 Tax Package Association Support Letter

The Honorable Mike Johnson
Speaker
U.S. House of Representatives
Washington, DC 20515 

The Honorable Chuck Schumer
Majority Leader
U.S. Senate
Washington, DC 20510

The Honorable Hakeem Jeffries
Minority Leader 
U.S. House of Representatives
Washington, DC 20515

The Honorable Mitch McConnell
Minority Leader
U.S. Senate
Washington, DC 20510

Dear Speaker Johnson, Majority Leader Schumer, Minority Leader Jeffries, and Minority Leader McConnell:

We, the undersigned organizations, representing hundreds of thousands of businesses who collectively employ tens of millions of Americans in all sectors of the U.S. economy, urge Congress to immediately enact the pro-growth Tax Relief for American Families and Workers Act. 

Tax policy plays a critical role in the ability of American businesses to thrive, create jobs in the U.S., and effectively compete in today’s global economy. The Tax Relief for American Families and Workers Act will restore three tax policies vital to workers and America’s future: immediate expensing of domestic R&D expenses, enhanced interest deductibility, and 100% accelerated depreciation.  

All three of these tax policies have a long history of bipartisan support and are critical to strengthening America’s global competitiveness. They’ve enabled U.S. businesses to innovate, create good paying jobs, protect our national security, and remain at the cutting edge of the global economy. Restoring these provisions will have a profound impact on business investment, economic growth, and job creation.  

Now is the time for Congress to prioritize U.S. innovation, manufacturing and economic growth, particularly as strategic competitors like China are offering ever more generous incentives. Congress must act to protect the thousands of small and medium businesses, hundreds of thousands of family-supporting jobs and billions of dollars of pro-growth investments supported by these provisions. 

We strongly support the Tax Relief for American Families and Workers Act to bolster our economy and support American workers and families by acting without delay to restore immediate R&D expensing, a pro-growth interest deductibility standard, and full expensing for capital investments. 

Sincerely,