ARLINGTON, Va., Dec. 20, 2017 /PRNewswire-USNewswire/ -- Today, National Association of Chemical Distributors (NACD) President Eric R. Byer welcomed U.S. House of Representatives and U.S. Senate passage of comprehensive legislation that would overhaul our nation's tax code and provide relief to the American business community.
"NACD is pleased to see once-in-a-generation tax reform make its way through Congress and head to the President's desk. Tax reform has been long-overdue, and this legislation will finally make it easier for businesses both large and small to grow the economy and put more Americans to work.
"We applaud the provisions that protect pass-throughs from high taxes by reforming both the individual and corporate rates; double the estate tax exemption; preserve the Last In, First Out inventory accounting method; and assist businesses that import and export products to our economic benefit. Taken together, these provisions will enable small businesses like most chemical distributors to use a greater share of their earnings to expand their facilities, increase their product offerings, and hire more workers.
"NACD thanks both the House and Senate leadership for their hard work in reconciling their differences during the conferencing process. We're confident these changes will lead to robust economic growth, and we look forward to seeing President Trump sign this landmark legislation into law."
NACD and its over 440 member companies are vital to the chemical supply chain providing products to over 750,000 end users. NACD members are leaders in health, safety, security, and environmental performance through implementation of Responsible Distribution, established in 1991 as a condition of membership and a third-party verified management practice. For more information, visit www.NACD.com.
Contact: Matthew McKinney
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SOURCE National Association of Chemical Distributors (NACD)