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White House proposes new tax incentives aimed at manufacturers

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The day after President Obama's State of the Union address, the White House issued an outline of several new manufacturing incentives designed to bring manufacturing jobs back the U.S.  New and extended or expanded incentives would include:

• A 20% tax credit for moving operations back to the United States
• Increasing the Section 199 domestic production activities deduction for manufacturers and doubling it – to 18% - for advanced manufacturing technologies
• Extending the Section 48C advanced energy manufacturing credit
• A one-year extension of 100% expensing
• As part of the president's overall tax reform plan, the permanent extension of the R&D credit

A fact sheet of the President's proposal, which also included several revenue raisers to pay for the incentives, can be found here: http://www.whitehouse.gov/the-press-office/2012/01/25/fact-sheet-president-obama-s-blueprint-support-us-manufacturing-jobs-dis