Issue: Tax Policy

It’s critical that Congress extend restore and extend three essential pro-growth business tax policies, the deduction for domestic research and development expenses, 100% bonus depreciation and a cap on deducting business interest expenses that is tied to earnings before interest, taxes, depreciation and amortization (EBITDA). These provisions are essential to U.S. security firms, including startups, that are leading the way in technical innovation, and well as helping businesses of all sizes make investments in facilities and equipment that improve safety and security for their employees and patrons.

SIA POSITION STATEMENT:

The Security Industry Association (SIA) urges the Senate to swiftly pass H.R. 7024, the Tax Relief for American Families and Workers Act, which includes these policies and passed the House in January 2024 with an overwhelming bipartisan vote of 357-70, and would send the measure to President Biden’s desk.