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 - Discussed importance of water efficiency and offering grants to entities (state, local, tribal governments, as well as water and energy utilities and nonprofits) for the purchase, installation, or use of efficient landscape, appliances, and fixtures, as well as grants and technical assistance to public water systems to conduct an annual audit and establish a water loss control program.

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

- American Innovation and Jobs Act (S.866) and American Innovation and R&D Competitiveness Act of 2023 (H.R. 2373)- urging support of bills which will allow businesses to fully deduct R&D expenses annually. - Accelerate Long-term Investment Growth Now (ALIGN) Act - H.R. 2558 / S. 1166 - urging support for bill which would make permanent full and immediate investments in machinery and equipment, also known as 100 percent bonus depreciation. - 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 to debt finance and grow their businesses.