This week, Congress will continue consideration of a partisan $3.5 trillion reconciliation tax and spending legislation that includes new government programs and tax increases of an estimated $2.2 trillion.
NRCA joins the U.S. Chamber of Commerce and other business groups in opposing this legislation because many of its provisions are inconsistent with policies that spur economic growth and investment. In fact, the cumulative effect of the tax hikes will take the top estimated rate on pass-through entity earnings from 29.6% to 46.4%, which is higher than the rates that existed before the 2017 Tax Cuts and Jobs Act became law.
The bill also contains a new federal paid leave program that is complicated and expensive, an exponential increase in employer penalties for Occupational Safety and Health Administration citations and many problematic changes to federal labor laws. The bill has not been finalized but could be voted on in the House as soon as this week.
NRCA urges all members to reach out to their members of Congress to oppose the reconciliation tax and spending bill.
For more information and to take action and email your legislators, visit the NRCA Grassroots Advocacy Network at roofingadvocacy.nrca.net.