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Sylvamo Tells Ways and Means Tax Changes Enabled $150M Investment; Lawmakers Debate Tariff Fallout
Summary
Agnes Webb of Sylvamo told the House Ways and Means subcommittee that permanent expensing and international tax fixes enabled roughly $150 million in new investment in South Carolina; members used her testimony to contrast corporate investment incentives with evidence that tariffs raise consumer costs.
Agnes Webb, vice president for tax at Sylvamo, told the House Ways and Means subcommittee that the Tax Cuts and Jobs Act and the recently enacted Working Families Tax Cuts Act materially improved her company's ability to plan and finance capital spending. "The TCJA helped Sylvamo tap into the location, the infrastructure, and the skilled workforce here in America," Webb said during her five-minute statement, and later told members the company announced approximately $150,000,000 in new investments in South Carolina in 2025.
Webb explained…
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