Manufacturing Group Escalates Push Against Write-Off Rules (1)

A leading manufacturing trade group is ramping up lobbying efforts on regulations for one of the 2017 tax overhaul’s biggest revenue raisers.

The Internal Revenue Service’s proposed rules (REG-106089-18) for the tax law provision, which restricts deductions of debt interest payments, have prompted consternation among manufacturers and their tax planners for making their debt more expensive. The proposed rules also would cause the new limit on interest write-offs to hit many companies several years sooner than expected.

The National Association of Manufacturers requested that members of its “interest expense working group” send comments so it can write ...