WASHINGTON, DC – National Foreign Trade Council (NFTC) Vice President for International Tax Policy Anne Gordon today issued a statement following Senate passage of the reconciliation bill:
“We welcome Senate passage of the One Big Beautiful Bill. We would like to thank Leader Thune, Chairman Crapo, and the members of the Senate Finance Committee for their dedicated work in advancing the tax provisions of this legislation and for their commitment to the development of pro-growth U.S. tax policy.
“We welcome the Senate’s decision to retain core international and business provisions of the Tax Cuts and Jobs Act in its version of the bill, as well as including permanent immediate expensing of research and development and reinstating depreciation and amortization in the interest deduction limitation. We are also pleased to see the Senate make permanent the look-through for controlled foreign corporations and provide other long-needed international tax fixes for U.S. corporations.
“As the House considers the revised bill, we encourage swift consideration and passage of tax legislation that incentivizes investment, innovation, and global opportunity for America’s job creators.”
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About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade, tax, national security and supply chain policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses, who account for over $6 trillion in revenue and employ nearly 6 million people in the United States.
