AISI Applauds House Passage Of Tax and Budget Reconciliation Bill

July 3, 2025

WASHINGTON, D.C. – Kevin Dempsey, president and CEO of the American Iron and Steel Institute, today applauded the passage by the House of Representatives of the comprehensive budget and tax bill which extends provisions of the 2017 Tax Cuts and Jobs Act (TCJA) scheduled to expire at the end of 2025 and makes several other improvements to the U.S. tax code. Dempsey particularly noted the importance of a number of tax provisions that are significant to the American steel industry: 

“AISI welcomes final passage of this critical pro-growth legislation, which will promote capital investment and job creation in the American steel industry and across the manufacturing sector. Many of the key capital cost recovery provisions from the 2017 tax law have expired or were scheduled to be phased out, including 100 percent bonus depreciation for business investment, immediate expensing for domestic research and development expenses and the EBITDA-based standard for business net interest deductions. These rules have a proven record of fueling innovation and economic growth. Today’s action to restore these measures and make them a permanent part of the tax code will allow many companies to invest in steel-intensive facilities and equipment.  

“We applaud House passage of this legislation and look forward to the President signing it into law. This will set the stage for further growth and job creation in the American steel industry and many other industries.” 

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Contact: Lisa Harrison

202.452.7115 / lharrison@steel.org

AISI serves as the voice of the American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI’s membership is comprised of integrated and electric arc furnace (EAF) steelmakers, steel pipe and tube manufacturers and steel processors and fabricators, reflecting the production and distribution of both carbon and stainless steels. These steels are critical to America’s national and economic security, including roads and bridges, buildings, the electrical grid, cars and trucks and all clean energy technologies. AISI also represents associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI’s website at www.steel.org. Follow AISI on Facebook, LinkedIn, Twitter (@AISISteel) or Instagram.