IPC Claims Legislative Victory

IPC-Association Connecting Electronics Industries (Northbrook, IL) has claimed a victory in its efforts to have a realistic equipment depreciation schedule enacted for the U.S. electronics assembly and printed circuit board (PCB) industries. The Job Creation and Worker Assistance Act of 2002 was signed into law by President George Bush on March 9. The act contains a 30 percent accelerated depreciation benefit over the next three years that will spur investment in state-of-the-art manufacturing equipment and assist in the recovery of the PCB and electronics manufacturing services (EMS) industry. The applicable time period for equipment covered under the new law is property that was acquired after September 10, 2001, and before September 11, 2004.

The U.S. Congress and the Bush Administration reached agreement on an economic stimulus package that included the accelerated depreciation provision. This depreciation issue has been a cornerstone of IPC's government relations policy for more than seven years. The bipartisan effort received support from nearly every congressman and senator that IPC contacted to support the bill.

�This is a great victory for IPC, its board and its dedicated members,� said Denny McGuirk, IPC President. �I congratulate and thank all those individuals, especially those that serve on our Government Relations committee, who have given their time and energy to attend past Capitol Hill Day events, write letters and host plant tours on this very important issue.

�The passing of this bill is timely for our industry and our national economy,� added McGuirk. �With IPC Printed Circuits Expo 2002 just around the corner, the 30 percent accelerated depreciation benefit will likely impact many attendees' purchasing decisions in a positive way.�