Presidential candidates Kamala Harris and Donald Trump this week outlined their plans for the U.S. manufacturing industry, featuring expanded R&D credits, tax credits, and a “manufacturing ambassador.”

The current Vice President’s 82-page policy blueprint includes tax incentives for domestic manufacturing, workforce development initiatives, and support for industries that prioritize environmental responsibility.

Trump’s manufacturing strategy, announced at his rally in Georgia, included a first-year tax write-off for all R&D expenses, allowing businesses to “write off 100% of the cost of heavy machinery and other equipment in the first year.” The former president also proposed creating a “manufacturing ambassador” to streamline initiatives and enhance American competitiveness in global markets. 9/26/2024