The importance of tax relief advocacy

By Dani Sheehan. 

While the recent senate vote fell short, the NRCA continues to advocate for tax relief legislation and pro-growth policies for the roofing industry. 

On July 29, 2024, Majority Leader Chuck Schumer (D-New York) scheduled a procedural vote on the bipartisan Tax Relief for American Families and Workers Act (H.R. 7024). This bill, which had previously passed the House of Representatives by a large margin (357-70), includes several provisions crucial for the roofing industry.  

McKay Daniels, CEO of the National Roofing Contractors Association (NRCA), issued a statement on July 30, saying: “NRCA applauds Majority Leader Chuck Schumer for scheduling a vote on this important legislation.” He also shared his appreciation for Chairman Jason Smith (R-Missouri) and Chairman Ron Wyden (D-Oregon) for crafting the initial, bipartisan legislation to restore and expand tax relief to American businesses. He continued, “The roofing industry greatly benefits from the restoration of research and development expensing, interest deductibility, 100% bonus depreciation for qualified property and increased small business expensing.” 

Unfortunately, the Senate failed to garner the 60 votes required to move forward with the bill’s consideration and Congress is headed back to their districts until after Labor Day. While the recent Senate procedural vote was a setback, the advocacy efforts of the NRCA and industry professionals remain crucial during Roofing Day and throughout the year. By fostering strong relationships with government representatives, the roofing industry can continue to advocate for policies that support growth and advancement. The future of our industry depends on our collective efforts to engage with and influence the legislative process. 

We look forward to amendments made to the bill that might further improve tax policies to allow employers to invest back into their employees, businesses and communities. The roofing industry, a $100 billion sector with nearly one million employees, plays a vital role in addressing affordable housing and maintaining critical infrastructure. Pro-growth tax policies enable roofing companies to invest back into their businesses and communities, manifesting in higher wages for employees, expanded benefits, new equipment and charitable contributions.