Tax proposal could injure steel: AISI

Apr 01, 2014 | 03:20 PM | Catherine Ngai

Tags  steel, tax proposal, American Iron and Steel Institute, AISI, Thomas J. Gibson, tax rate, Rep. Dave Camp, Catherine Ngai

NEW YORK — A House Ways and Means Committee tax proposal would weaken many pro-investment provisions important to the steel sector, according to the American Iron and Steel Institute.

In a March 31 letter to committee chairman Rep. Dave Camp (R., Mich.), the Washington-based trade group cited concerns over the proposal because the cumulative effect put forward "will ultimately raise the effective tax rate on U.S. manufacturers by repealing longstanding tax provisions utilized by capital-intensive industries....

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