A bill that would boost innovation and expand tax credits for small businesses has the support of the American Foundry Society.
H.R. 7766, introduced in the U.S. House by Rep. Jackie Walorski (R-Ind.), would assist metalcasters by doubling research and development tax credits and allowing more businesses to access these incentives. The metalcasting industry is a major driver of innovation in manufacturing, investing heavily in research and development. About 90 percent of all durable goods contain metal castings.
“The highly engineered components manufactured by U.S. metalcasters form the backbone of our industrial economy,” said AFS CEO Doug Kurkul. “This commonsense legislation would encourage further scientific and technical breakthroughs, and it would boost U.S. metalcasters’ ability to innovate and support jobs. As manufacturers work to lead our country’s economic recovery during these unprecedented times, we encourage the House to pass H.R. 7766.”
The American Foundry Society is a dynamic technical and advocacy organization that serves and represents the $44 billion metalcasting industry. AFS is the only association serving the entire industry, including all metals and processes, with a three-part focus on advocacy, education, and innovation. AFS also publishes Modern Casting and Casting Source magazines and presents Metalcasting Congress and CastExpo, the largest metalcasting trade events in North America. Founded in 1896, the organization is based in Schaumburg, Illinois, with an advocacy office in Washington, D.C. More information is available at afsinc.org.