As we enter a new year, NRCA expects the new Republican-controlled Congress and President-elect Donald Trump to address several issues of importance to the roofing industry during 2017. NRCA will work to capitalize on opportunities to address several key policy priorities.
During the 2016 campaign, Trump proposed dramatic cuts in tax rates as a component of comprehensive tax reform, and his plan largely mirrors the "Better Way" tax reform proposal released by House Republicans in June. Trump's plan has three rates on the individual side of the tax code at 12, 25 and 33 percent based on income levels and would slash the corporate rate to 15 percent with active business income in pass-through companies also taxed at this rate. The House Republican proposal proposes full expensing of capital investments, including real property such as commercial roof systems.
NRCA has been working for years to build relationships with lawmakers on the tax-writing committees in Congress to lay the foundation for tax reform that lowers rates for all NRCA members. NRCA now is well-positioned to ensure any tax legislation benefits the roofing industry by better enabling its members to grow their businesses.