Manufacturers Seek Business-Friendly Guidance on GOP Tax Law

America’s largest lobbyist for manufacturers is urging the Treasury Department to issue business-friendly guidance on key provisions from July’s tax law.

A new letter from the National Association of Manufacturers called on Treasury Secretary Scott Bessent to “maximize the bill’s impact on economic growth and minimize the compliance burden on manufacturers.” The letter calls for guidance on provisions that include new incentives for certain facilities, and the foreign entities of concern standards for energy tax credits.

• Guidance for a new break on the immediate expensing of production facilities should include upgrade and maintenance costs along with the expansions and rehabilitations ...