GCCA signs Coalition Letter in Support of Ongoing Efforts to Reinstate the EBITDA Standard for Business Interest Deductions

GCCA joined ongoing efforts to reinstate the EBITDA standard for business interest deductions.  The coalition letter was joined by 231 companies and associations and sent to the Hill December 12^th.  At a minimum, the coalition urges Congress to act by year’s end to extend the EBITDA standard for at least four years. A four-year extension would reverse the EBIT change for 2022 and provide much-needed tax certainty through 2025—critical relief given ongoing economic instability and rising interest rates.

Rep. Joe Morelle (D-NY), Rep. Adrian Smith (R-NE), and Sen. Roy Blunt (R-MO) have introduced legislation to permanently preserve the EBITDA standard and ensure that the tax code does not penalize job-creating investments. The coalition is respectfully encouraging Congress to support investment and job growth at capital-intensive businesses across the country by passing a permanent extension of the EBITDA standard for business interest deductions.