ORLAND PARK, IL — The Third Annual NASCAR Caf
ORLAND PARK, IL — The Third Annual NASCAR Caf
The bill aims to reinstate tax incentives for R&D and small business investments, along with other measures.
The U.S. House of Representatives passed H.R. 7024, the Tax Relief for American Families and Workers Act of 2024, with bipartisan support. The bill, now with the Senate's Finance Committee, aims to reinstate tax incentives for research and development (R&D) and small business investments, along with other measures, according to SEMA.
Representatives from MANN+HUMMEL’s North American aftermarket brands recently visited Capitol Hill to express their support for H.R. 906.
This measure contains the restoration of one year deductibility of research and development expenses, a key legislative priority for the association.
The Tax Relief for American Families and Workers Act of 2024 benefits specialty automotive aftermarket businesses, according to SEMA.
The Automotive Service Association says the legislation is beneficial for independent automotive repair businesses.
“Congress must restore this tax provision to enhance U.S. competitiveness, job creation and innovation as soon as possible,” said Ann Wilson, MEMA’s executive vice president of government affairs.
Rep. Marie Gluesenkamp Pérez joined other legislators in sending a letter to NHTSA about proposed guidance for implementing the Massachusetts Right to Repair law.
The U.S. House passed the “Choice in Automobile Retail Sales (CARS) Act” (H.R. 4468) with bipartisan support.
The SEMA-supported bill would prohibit the EPA from finalizing federal emissions standards for light- and medium-duty motor vehicles model years ’27 to ’32.