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

- 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 to debt finance and grow their businesses. - Water Conservation Rebate Tax Parity Act - legislation to be introduced to 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 that they have made.