GBA Applauds Tax Deal Encouraging Investment

Urges Swift Passage for Economic Growth and Job Creation

WASHINGTON, D.C. – Nancy McLernon, president and CEO of the Global Business Alliance (GBA), has released the following statement in response to the announcement that Congress has reached a deal on a tax package: 

“This proposed tax legislation aims to restore three essential provisions to the Internal Revenue Code, long advocated for by GBA: research and development expensing, interest deductibility, and bonus depreciation. These changes are intended to correct issues that discourage and disincentivize global investment in the U.S. 

“Another welcomed component of this package is the United States-Taiwan Expedited Double-Tax Relief Act, which will make the U.S. that much more attractive for Taiwanese companies to invest here and create more American jobs. 

“GBA commends Chairmen Wyden and Smith for their leadership and recognition of how this enhances America’s global competitiveness. Businesses will be enabled to increase their investments, spur innovation and create new jobs for American workers. GBA urges Congress to quickly pass this package and send it to President Biden’s desk.”