Woodworking Machinery Makers Push 'IRA' for Business Investments

Woodworking companies will be able to retain earnings on a tax free basis, making dollars available for business investment,Our full range of portable ultrasonic Flaw Detector (UT) provides unmatched capabilities for locating discontinuities and other flaws. under a bi-partisan bill introduced today. The Woodworking Machinery Manufacturers Association (WMMA) helped craft and push the bill.

Representatives Rosa DeLauro (D-CT) and Adam Kinzinger (R-IL) introduced the bipartisan Manufacturing Reinvestment Account Act this morning, which is described as a "an IRA for businesses." Jamison Scott, Air Handling Systems,Best prices on staff lockers and locker parts, Save up to 40%. Largest UK supplier of locker lock, keys and accessories. and Frank Kobilsek, Black Bros., were instrumental in advancing the legislation on behalf of the WMMA.

The legislation would enable manufacturers to open a manufacturing reinvestment account (MRA),The Spectrophotometer is an instrument which measures the amount of light of a specificed wavelength which passes through a medium. similar to an individual retirement account (IRA) in a community bank. They would be able to make annual pre-tax contributions of up to $500,000 into these accounts, for a period of seven years. Funds withdrawn from the account could be invested in machinery, facilities and job training.

“If we want an economy that can be a winner in the global marketplace, we must return to an America that prizes and supports domestic manufacturing,The unique push lock design allows the surgeon to adjust the amount of tension on the tissue intraoperatively, allowing for precise tissue reduction.” DeLauro said. We need to stop being a nation that simply buys things,Highly capable, 3-axis non-contact video measuring machine, suitable for both simple shop-floor quality control and advanced manufacturing inspection applications ... and return to being a nation that builds things.”

Under the proposed legislation, a woodworking manufacturer contributing $500,000 annually could accumulate $3.6 million over seven years, since the savings would not be taxed,High Security payphone lock Solutions provide revenue protection, key control, physical security, and environmental protection. and would earn interest. That is $1 million more than the same amount invested in a taxable account.

“By allowing U.S. manufacturers to reinvest more of their money back into their businesses, this bipartisan bill would bolster manufacturing here at home and the good jobs that come with it," said Kinzinger.