U.S. Senate Focusing on Series of Jobs Bills,
Tax Breaks Could Benefit Metalcasting Facilities

Released March 5, 2010

On Wednesday, March 3, the U.S. Senate approved a jobs bill titled the Hiring Incentive to Restore Employment Act that is intended to exempt businesses that hire the unemployed from paying their Social Security payroll taxes through December 2010, permit businesses to write off equipment as a business expense rather than depreciating them over time and extend federal highway and mass-transit funding programs.

This bill is expected to be voted on by the House shortly. Congressional leaders are expected to debate additional pieces of legislation to bolster the economy and create jobs which will likely include a year-long extension of unemployment insurance, COBRA health benefits as well as help for small businesses having trouble getting loans. Senate Democratic leaders are looking to pass another tax bill, the American Workers, State, and Business Relief Act of 2010 that would extend several industry-friendly tax breaks that expired, including a retroactive extension of the R&D tax credit, tax credits for biofuels and the purchase of hybrid vehicles.

AFS has signed a coalition letter calling on the Congress to invest in the manufacturing sector for energy efficiency and tooling for the production of energy-efficient and clean energy products. Specifically, the letter calls for a significant increase of the energy-efficient manufacturing grant program and Manufacturing Extension Partnership Program.

For more information, contact Stephanie Salmon, Metalcasters Alliance for Government Affairs Washington Office, at ss@wafed.com or 202/842-4864.