The Natural Products Association (NPA) applauded the passage of the Protecting Americans from Tax Hikes (PATH) Act of 2015. NPA in a Dec. 17 letter to House and Senate leaders strongly supported several of the provisions contained in the legislation, including the R&D credit, Section 179 expensing, and 15-year cost recovery for qualified leasehold improvements and retail improvements.

“Making the R&D tax credit permanent is not only a victory for the industry but also for millions of consumers who take supplements each and every day,” said Dan Fabricant, executive director and CEO of NPA. “NPA commends House and Senate leaders and all of the members who voted for this important legislation and for recognizing the importance of investing in new research that will result in more options and safer products for consumers.”

“These reforms and improvements to our tax code will provide the industry with the resources and capital it needs to manufacture more safe, affordable, and reliable supplements for consumers,” he continued. “This legislation will boost the supplement industry and the United States economy as a whole.”

“Making Section 179 expensing and 15-year cost recovery for leasehold and retail improvements will increase the ability of the natural products industry to make important investments—investments that will generate increased economic growth, job creation and higher wages. We are grateful for the opportunity to have worked with House and Senate leaders on these important issues and welcome a constructive dialogue that furthers our shared interests in protecting the business interests of NPA members across the country.”