The Vision Council Urges Congress to Address Expiring Tax Provisions Impacting Optical Industry
Alexandria, VA – December 17, 2024 – This week, The Vision Council submitted a letter calling on Congressional leaders to prioritize tax policy that expands opportunity for the American optical industry. The letter, sent to the House Ways and Means Committee and the Senate Committee on Finance, urges lawmakers to address specific expiring tax provisions that are vital to domestic businesses and the health of all Americans.
“The Vision Council and our members aim to strengthen America’s global competitiveness, increase the domestic workforce, and help millions of Americans see and live better every day,” said Ashley Mills, CEO of The Vision Council. “We urge lawmakers at both the federal and state levels to consider the implications of these expiring tax provisions that enable our members to produce and supply quality optical products and services to people everywhere and ensure that all Americans are making vision care part of their ongoing health care.”
The Vision Council has identified specific provisions that, through extension, would prevent additional economic challenges for optical manufacturers and suppliers. By extending the Section 199A (pass-through) deduction, maintaining the current corporate tax rate and estate tax exemption, and reinstating the immediate deduction for research and development (R&D) expenses, members of the optical industry can continue to compete in the global marketplace, innovate products and services, and grow their companies.
Read the full letter here.
For more information contact Michael Vitale, The Vision Council’s Vice President of Membership, Government Relations and Technical Affairs.