[Congressional Record Volume 170, Number 6 (Thursday, January 11, 2024)]
[Extensions of Remarks]
[Page E31]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           URGING THE EXTENSION OF PRO-GROWTH TAX PROVISIONS

                                 ______
                                 

                         HON. GUY RESCHENTHALER

                            of pennsylvania

                    in the house of representatives

                       Thursday, January 11, 2024

  Mr. RESCHENTHALER. Mr. Speaker, I rise in support of extending the 
pro-growth tax provisions of the Tax Cuts and Jobs Act (TCJA).
  In 2017, President Donald J. Trump signed the TCJA into law, which 
ushered in prosperity to the American economy. These benefits included 
significant investments in American workers, families, and local 
communities. Thanks to House Republican leadership and Chairman Jason 
Smith, Congress has prioritized the restoration of these important 
provisions, such as the full and immediate expensing for research and 
development, full expensing of investments in new equipment, machinery, 
and technology, and business interest deductibility.
  Under these important TCJA provisions, job creators across our nation 
increased innovation, expanded facilities, and reinvested in their 
employees. For example, the International Paper Company utilized the 
research and design expensing reforms to advance efficiency and safety 
standards at their box plant in Eighty-Four, Pennsylvania.
  Mr. Speaker, I hear across southwestern Pennsylvania the need to 
restore these vital TCJA provisions. I urge Congress and the 
Administration to recognize the opportunity before us. Restoring these 
provisions can strengthen the U.S. economy, help create new American 
jobs, and increase our nation's competitiveness. I stand with the 
businesses and workers in my district, and I encourage my colleagues to 
extend these expired provisions immediately.

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