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SPI praises Obama for his call to 'reignite spirit of innovation' in U.S.

Article-SPI praises Obama for his call to 'reignite spirit of innovation' in U.S.

After last night’s State of the Union address, William R. Carteaux, President and CEO of SPI: The Plastics Industry Trade Association (Washington, DC), which represents the $427 billion U.S. plastics industry, praised Congress on its successful efforts for passing a budget. With the New Year off to an early start, Carteaux is hopeful that all parties can continue to work together on other bipartisan priorities.

“On behalf of the U.S. plastics industry, which employs nearly one million hard-working Americans, we encourage Congress and the Administration to build on recent bipartisan budget reform success, and work together to find new ways to create jobs, grow the American economy and promote U.S. manufacturing at home and abroad,” said Carteaux in a statement.

Last month, Congress made permanent several important tax provisions: the R&D tax credit, Section 179 small business expensing, Bonus Depreciation and deferred the medical device tax for the next couple years. Additionally in 2015, the first reforms to the Toxic Substances Control Act (TSCA) in nearly 40 years moved forward in both the House and the Senate.

SPI looks to harness these feats as a basis to reenergize innovations in the plastics industry and to tackle the nation’s biggest environmental concerns.

“For example, two pounds of plastic can deliver roughly 10 gallons of beverages as opposed to three pounds of aluminum, eight pounds of steel or more than 40 pounds of glass. Lighter materials mean less fuel is used in shipping, which reduces carbon emissions, making plastics the material of choice for the environmentally minded, adds Carteaux.

We urge the President and Congress to continue to engage the plastics industry in efforts to build a more sustainable future for our children and grandchildren.”

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