1. LATEST POLICY
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Finance Committee passes vital tax provisions
The Senate Finance Committee cleared a “tax extenders” package out of Committee on a bipartisan voice vote, advancing it towards the Senate floor. The package includes many tax provisions important to manufacturers, including the R&D tax credit and bonus depreciation.
More: Chairman’s Statement | Modified Chairman’s mark
Finance Committee adopts Coons/Enzi tax credit for startup manufacturers
The Senate Finance Committee included the Startup Innovation Credit Act (S. 193) in tax extenders by a bipartisan voice vote. The bill allows startup manufacturers to claim the R&D tax. Startups businesses generally have the highest potential for growth and generate the most jobs. S. 193 was introduced by Sens. Coons (D-DE) and Enzi (R-WY), and co-sponsored by Sens. Schumer (D-NY), Rubio (R-FL), Blunt (R-MO), Moran (R-KS), Stabenow (D-MI), and Kaine (D-VA). The provision was introduced as an amendment to tax extenders by Sens. Roberts (R-KS) and Schumer (D-NY).
More: Coons press release | Schumer press release | Schumer / Roberts modified amendment
Finance Committee passes Roberts/Coons tax credit to help small manufacturers
The Senate Finance Committee passed key provisions of the Innovators Job Creation Act (S.192) by a bipartisan voice vote. The provision allows small business owners to claim the R&D tax credit against their Alternative Minimum Tax liability. The bill was introduced by Sens. Roberts (R-KS) and Coons (D-DE), and is cosponsored by Sens. Enzi (R-WY) and Schumer (D-NY). It was included in the amendment offered by Sens. Roberts and Schumer.
More: Coons press release | Schumer / Roberts modified amendment
Commerce Committee advances vital manufacturing hubs bill to the floor
The Revitalize American Manufacturing and Innovation Act of 2013, sponsored by Sens. Brown (D-OH) and Blunt (R-MO), was advanced out of the Senate Commerce Committee. This bill will create a network of regional hubs bringing together businesses, universities, and government to promote manufacturing innovation and workforce development.
More: Commerce press release | Blunt press release | Brown press release
Commerce Committee includes National Manufacturing Strategy in hubs bill
Sens. Pryor (D-AR), Kirk (R-IL), and Coons (D-DE) applauded the Senate Commerce Committee’s passage of their American Manufacturing Competitiveness Act, which requires the President to submit a National Strategic Plan for Advanced Manufacturing to Congress every four years, and is part of the Manufacturing Jobs for America initiative. While there are numerous programs spread throughout several federal departments and agencies aimed at supporting manufacturing, there is no cohesive national strategy to ensure these programs are working together toward the unified goal of revitalizing American manufacturing.
This legislation was passed as an amendment, offered by Sen. Pryor, to the Revitalize American Manufacturing and Innovation Act of 2013. The amendment was based off of S. 1709, The American Manufacturing Competitiveness Act, introduced by Sens. Kirk and Coons, co-sponsored by Sens. Blunt (R-MO), Brown (D-OH), Stabenow (D-MI), Graham (R-SC) and Harkin (D-IA).
More: Kirk press release | Coons press release
Klobuchar and Hoeven Innovate America Act passed by Commerce Committee
Provisions of Sens. Klobuchar (D-MN) and Hoeven’s (R-ND) Innovate America Act (S.1777) were included in the hubs bill during the Senate Commerce Committee’s markup. The amendment:
- Requires the Secretary of Commerce to conduct a study on the top 20 exporting industries in the U.S., domestic regulatory and policy barriers to increasing exports, foreign barriers to doing business abroad, and recommendations on how to address these barriers;
- Clarifies that manufacturing hubs should consider workforce recruitment as part of their functions; and
- Encourages applications from new centers to emphasize how they will impact global and domestic competitiveness.
Defense Department announces plans to purchase U.S. made athletic footwear
The Defense Department announced it will require that service members purchase American-made shoes when using Department funds. Previously, recruits had received a Department stipend with which to purchase shoes, but no Berry Amendment-compliant athletic footwear was available. Based on feedback from Members of Congress and shoe manufacturers, the Department determined American manufacturers could manufacture compliant footwear, and will begin requiring that recruits use their stipends to purchase American-made shoes.
More: Brown press release | Levin press release