ABMA has settled on seven priorities for the 2023 Congressional session. They are the:
- 100% Bonus Depreciation Tax Credit;
- Credit Card Competition Act;
- Employer Directed Skills Act;
- LICENSE Act;
- Main Street Tax Certainty Act;
- Softwood Lumber Agreement; and
- Strengthen Supply Chains Through Truck Driver Incentives Act*
The first step in getting this legislation passed it getting it introduced or reintroduced. Since it is the start of a new Congressional session, all 2021-2022 legislation that did not pass and become law must be reintroduced in order to be considered by the 118th Congress. It is also an opportunity to get new legislation introduced. ABMA is currently working with sponsors to get bills reintroduced as well as talking with multiple Representatives and Senators about supporting legislation on issues such as the 100% Bonus Depreciation Tax Incentive, which was not extended in 2022 and begins to phase out this year.
Why These Issues
ABMA chose these issues to focus on as we start 2023 because they will strengthen and support our industry.
The two tax issues are vital for businesses, both encourage growth and investment while the credit card legislation will increase competition and decrease costs for small business.
The Employer Directed Skills Act will ensure businesses have the financial support to train their employees and are able to train them for the skills needed by the employer.
The LICENSE Act will make it easier to get new truck drivers on the road, which is important right now with the worker shortage, and the Strengthen Supply Chains Through Truck Driver Incentives Act will support current drivers and help encourage new drivers to get on the road.
Obtaining a new Softwood Lumber Agreement will help ensure predictable pricing and stabilize the market while ensuring subsidized Canadian lumber does not flood the U.S. market devaluing domestic products.
As the year progresses, ABMA will monitor new and amended legislation and take action as appropriate.
Not only will ABMA be advocating on these issues throughout the year, they will be the focus of our Advocacy Day, March 22-24. Our meetings will each focus on a few specific issues depending on which legislator we are meeting with, but ABMA members will be leaving behind information on all seven of our issues and staff will be following up post Advocacy Day as well.
To register for Advocacy Day, click here.
*Click each priority for more in depth information on each.