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Manufacturers and Family-Owned Producers Tell House Tax Changes Help Equipment Investment and Succession Planning
Summary
Manufacturers and family-food producers testified that permanent expensing and expanded deductions in the Working Families Tax Cuts Act enabled capital purchases and eased succession planning, while warning that workforce and supply-chain pressures remain constraints.
At the House Small Business Committee hearing, several small-business witnesses described concrete ways the Working Families Tax Cuts Act affected their operations.
Tracy Tappany, co-president of Wyoming Machine, told the panel that immediate expensing under the law allowed her firm to buy a fiber laser welding system that cleared a five-week production backlog. "Full expensing and the certainty that it will remain in place…
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