Talking Tax Cuts
Vision Councils call on Congress to address expiring tax provisions impacting the optical industry
Last month The Vision Council called on Congressional leaders to prioritize tax policy that expands opportunity for the American optical industry.
In a letter to the House Ways and Means Committee and the Senate Committee on Finance, the Council urged policymakers to extend the Section 199A (pass-through) deduction, maintain the current corporate tax rate and estate tax exemption, and reinstate the immediate deduction for research and development (R&D) expenses. These tax policies “strengthen America’s global competitiveness, increase the domestic workforce, and improve the lives of millions of Americans with vision problems,” wrote Vision Council CEO, Ashley Mills.
“After the passage of the Tax Cuts and Jobs Act (TCJA), the optical industry significantly expanded its domestic production,” Mills explained. “Maintaining the current corporate tax rate will continue this trend by spurring investment in local communities and enhancing wage growth and job growth.”
Read the full letter here.
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