WASHINGTON–Legislation to bar insurers and other companies from deducting legal settlement costs from their taxes would increase "the current, anticompetitive legal cost burden facing U.S. manufacturers," a business advocate told a House committee today.
Representatives of two insurance industry trade groups later voiced the same concerns about the provisions, which are contained in the Senate version of minimum wage legislation.
Kenneth Petrini, vice president/taxes, for the Air Products and Chemicals Co., based in Pennsylvania, made his comments as a representative of the National Association of Manufacturers on provisions in the Senate version of minimum wage legislation.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
