Federal legislation introduced this week would take an important step toward restoring three tax priorities for manufacturers. The National Association of Manufacturers reports that the bipartisan Tax Relief for American Families and Workers Act would restore immediate R&D expensing, return to a pro-growth interest deductibility standard, and reinstate full expensing (also known as 100% accelerated depreciation) for businesses’ capital investments. More details from Bloomberg Tax. Also, see this summary from GBQ Partners, an OMA Connections Partner. 1/18/2024