Page 62 - MetalForming April 2014

Spotlight on PMA
Tax-Reform Bill Introduced
House Ways and Means Committee Chairman Dave Camp recently introduced his long-awaited tax-reform bill that updates outdated provisions, adds clarity and cre- ates a more stable framework to the tax code over the long term. Prolonged uncer- tainty over the federal tax code is one of the challenges facing U.S. manufacturers, and PMA and other manufacturing groups are endorsing Chairman Camp’s efforts. Several provisions in the bill mark a sig- nificant victory for PMA and its One Voice advocacy partnership.
Key provisions of the bill include a 25- percent tax rate for all manufacturers, regardless of whether the business is structured as a C-Corporation or a pass- through; and permanent extension of the R&D Tax Credit. It also makes permanent Section 179 Expensing—a top priority for manufacturers—at a limit of $250,000.
As expected, the proposal repeals bonus depreciation, transitions LIFO and gradually phases out the Section 199
Domestic Production Activity Deduction. Many manufacturers use these provisions and PMA is working with Congress on steps to reduce the impact that these changes would have on small businesses.
Should Chairman Camp’s proposal become law, small and medium-sized manufacturers will become more globally competitive.
“An overhaul of our tax code is long overdue and Chairman Camp deserves credit for having the leadership and courage to take on this important issue,”
C Corporation 35%
PMA Welcomes its Newest Members
•Bury Industrial Service, LLC, Lake Forest, IL
•DME Company, Madison Heights, MI
•HSK Stainless LLC, Gallatin, TN
•Intricate Metal Forming Company, Inc., Roanoke, VA •Metcraft Steels Private Limited, India
•US Forming Technologies, LLC, Grand Rapids, MI
Join PMA and experience the power of membership. Contact Janet Krall,
216/901-8800, jkrall@pma.org.
The Die Design and Simulation
Software ExperienceTM
May 28-29, 2014 | Rosemont, IL
—a tour of the industry’s leading design- and simulation-software systems for the metalforming and tool and die industry.
Learn the latest developments in die-design software at this timely and focused 1.5-day event, presented by MetalForming magazine.
• Witness software demonstrations from leading suppliers.
• Benefit from case-study presentations describing successful software-implementation projects.
• Hear keynote presentations from respected, knowledgeable experts on die-design and development practices that
deliver speed, flexibility and cost effectiveness. Keynote presenters include CAD-industry consultant Paul Hamilton; and Laurie Harbour, Harbour Results Inc.
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MetalForming/April 2014
www.metalformingmagazine.com
Sponsored by:
This is your chance to network with die-design and development experts.
To register or for more information, please visit www.metalformingmagazine.com/diedesign.
6363 Oak Tree Blvd. | Independence, OH 44131 216/901-8800 | fax 216/901-9669 www.metalformingmagazine.com
e-mail: metalforming@pma.org
An Official Publication of
Pass-through 65%
*Data based on responses from 130 One Voice manufacturers surveyed in January 2014.
says PMA President Bill Gaskin. “This is more than just about lowering rates—it is about simplifying the code, making it globally competitive and creating certainty