NAM's Stance on Pass-through Tax Adjustment
The NAM is urging Congress to scrap a proposed set of tax changes that would harm pass-through entities, including many manufacturers.
Edited by Margo Ellis
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From the National Association of Manufacturers: Congress continues to negotiate the reconciliation bill and members have been floating new taxes to help pay for the package. Senate Finance Committee Chairman Ron Wyden (D-OR) has released one set of proposals that would change pass-through tax policy to raise an estimated $172 billion over 10 years.
The proposals could create challenges:
- Discouraging partnership formation
- Confusion for existing partnerships
- Barring legitimate transactions
The current structure of pass-through partnership law offers manufacturers a critical way to start and maintain a business. Altering the tax rules for pass-throughs could change that calculation. Read more about it here.
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