MT Magazine November/December 2022

ECONOMICS ISSUE

10

MANUFACTURING MATTERS

INTERNATIONAL

Preparing for the Next Level of Global Exigence The world keeps turning. Seeing positive economic indicators paired with labor and supply chain challenges is unusual, but this is the state of the manufacturing industry in 2022. A vigorous economic recovery was on track until a combination of labor and geopolitical issues grew, and optimism around revenue growth and prosperity was held in check by caution from those ongoing risks. Workforce shortages now threaten operational efficiency, margins, and stability. More turbulence, geopolitical issues, and war are building complexity in an environment that’s already challenging to navigate. As leaders look to defend against disruption, they must make aggressive plans to fight talent scarcity, rising threats, and future disruptions, as well as adopt digital technology and advance sustainability agendas. Do you want to know more about the challenges and opportunities in different global markets? Reach out to AMT to explore possibilities around the world.

ADVOCACY

Midterms Are Over. What’s Next in Congress? Now that the elections are over, the 117th Congress has one more task to complete before it adjourns: funding the government for the remainder of fiscal year 2023, which began Oct. 1. The funding bill could present an opportunity to address two tax issues at the top of AMT’s priorities. The first is to delay or repeal the requirement to amortize R&D expenses beginning in 2022 without the option to deduct them in the year they are incurred. There is substantial bipartisan support for delaying its implementation, but sponsors of the provision have been unsuccessful in including it in other legislation that has since been enacted. Secondly, this is the last year for 100% bonus depreciation before it begins phasing out in 2023. AMT has been a champion of first-year expensing of capital equipment purchases since it was first enacted a decade ago and continues to advocate for its permanence. The 118th Congress convenes in January with a clean slate. Lawmakers must reintroduce any legislation previously considered to get on the agenda.

The Manufacturing Technology Series connects decision-makers from diverse industries with leading suppliers of advanced manufacturing technology, equipment and tooling. The Manufacturing Technology Series 2023: Four Regions . One Mission .

Feb. 21-23, 2023

May 16-18, 2023

Oct. 24-26, 2023

Nov. 7-9, 2023

Don’t miss the most important manufacturing technology events in the U.S. in 2023.

Visit mtseries.com to learn more.

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6/23/22 5:05 PM