Independent Electrical Contractors

Urge Congress to Make Key Tax Provisions Permanent
Congress is currently debating tax policy, and unless certain provisions are addressed before the end of the year, IEC members could face negative consequences. IEC is actively advocating for the inclusion of the following provisions:

  • Make the 199A/Qualified Business Income Deduction permanent to avoid a 20% tax increase on small construction companies.
  • Raise the estate tax exemption to safeguard family-owned construction firms for future generations.
  • Reinstate full expensing for both new and used construction equipment purchases to encourage investment and growth.

 

These provisions, among others, were made temporary in The Tax Cuts and Jobs Act of 2017 due to budget limits and are set to expire at the end of 2025 or later. If Congress and the White House don’t act soon, small and pass-through construction companies could face even higher taxes than before the TCJA was passed.

Act now! Tell Congress to make these tax provisions permanent.

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