PLUMBING MANUFACTURERS INTERNATIONAL

Environment/Superfund

- Healthy H2O Act (H.R. 1721 / S. 806) - urged support for bill which offers federal grants for water quality testing and certified treatment technology in rural and underserved communities - Water Conservation Rebate Tax Parity Act (H.R.8682) - amend federal tax law so that homeowners would not need to pay income tax when they receive rebates from water utilities for water conservation and water runoff management improvements.

TargetedSENATE · HOUSE OF REPRESENTATIVES

Trade (domestic/foreign)

Section 301 Tariffs - urge elimination of tariffs on plumbing products.

TargetedSENATE · HOUSE OF REPRESENTATIVES

Taxation/Internal Revenue Code

- Revitalizing Downtowns and Main Streets Act (H.R. 9002) - Support legislation that establishes temporary 20% tax credit to offset the eligible costs of converting an underutilized commercial building to housing, with a total of $15 billion in tax credits, to be allocated by state housing finance agencies. Of the total amount of tax credits, $12 billion is allocated to states based on their population, with the remaining $3 billion targeted to economically distressed areas. - Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) - Support bill to restore and extend three essential tax priorities through 2025: immediate R&D expensing for domestic research, full expensing for capital investments, and restoring pro-growth interest deductibility standard. - American Innovation and Jobs Act (S.866) and American Innovation and R&D Competitiveness Act of 2023 (H.R. 2373)- Support bills to allow businesses to fully deduct R&D expenses annually. - Accelerate Long-term Investment Growth Now (ALIGN) Act - H.R. 2558 / S. 1166 - Support bill which would make permanent full and immediate investments in machinery and equipment. - Urge re-instating the EBITDA standard for business interest deductions. Prior to January 1, 2022, businesses' interest expense deductions were limited by section 163(j) to 30% of their earnings before interest, tax, depreciation, and amortization (EBITDA). Interest deductions are now limited to 30% of earnings before interest and tax (EBIT). By excluding depreciation and amortization, the stricter EBIT standard makes it more expensive for capital-intensive companies