GBA Encouraged by House Passage of Tax Bill

Tax Package Will Bolster Economic Competitiveness

WASHINGTON, D.C. – Nancy McLernon, president and CEO of the Global Business Alliance (GBA), released the following statement in response to the U.S. House of Representatives passing the bipartisan Tax Relief for American Families and Workers Act:

“The House of Representatives has delivered, in a bipartisan manner, for the American worker and employer with the passage of the Tax Relief for American Families and Workers Act. I commend Chairman Smith and Ranking Member Neal for their leadership in restoring vital tax provisions: research and development expensing, interest deductibility, and bonus depreciation.

“This passage is a significant step toward enhancing America’s global competitiveness by spurring American innovation, boosting economic growth and incentivizing further investments in the U.S. The House has clearly demonstrated a commitment to advancing pro-growth policies.

“I urge the Senate to quickly build on this momentum and pass this tax package so President Biden can sign it into law.”