Marine manufacturers join chorus of manufacturing industry leaders

Manufacturing sector © National Marine Manufacturers Association

The Senate passed the "One Big Beautiful Bill" on July 1, marking a significant step forward for key provisions long championed by the manufacturing sector. The bill now returns to the House, where a final vote is expected as early as today, July 2. House GOP leadership is aiming to send the legislation to President Donald Trump's desk by the July 4 holiday.

In partnership with the National Association of Manufacturers (NAM), NMMA and several member companies signed a joint industry letter urging Congressional leaders to pass the bill and advance its key pro-growth tax policies that support small businesses, fuel domestic manufacturing and sustain middle-class jobs.

Key Provisions in the Current Bill:

• Permanent extension of the 2017 tax cuts for individuals and businesses;
• Restoration of immediate R&D expensing;
• 100% expensing deduction for new and modernized factories;