Passage of the Bipartisan Innovation Act will secure numerous victories for marine manufacturers

Chip © National Marine Manufacturers Association

Before Congress adjourns for its summer recess, there are several large pieces of legislation lawmakers are looking to pass, including the Bipartisan Innovation Act, which is a key policy priority for the recreational boating industry.

Passage of the Bipartisan Innovation Act will level the playing field for marine manufacturers, and will address a number of priorities for marine manufacturers, including:

Reinstate and expand the exclusion process for Section 301 tariffs, which are currently costing marine manufacturers over $30 million in taxes;

Address the U.S. semiconductor shortage currently impacting and stalling the marine manufacturing process;

Invest in American manufacturing by boosting research and development (R&D) and allowing business to fully deduct R&D expenses in the same year they are incurred.

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