Date: 4/30/2025 | Author: Bill McDevitt, CPA
In a surprising announcement yesterday, Treasury Secretary Scott Bessent called full expensing “one of the most powerful parts of President Trump’s 2017 tax bill” and revealed plans to make it retroactive to January 20th. But that’s not all—it’s expanding.
“We’re also looking to add full expensing for factories,” Bessent said. “So bring your factory back. You can fully expense the equipment and the building.”
The takeaway? This proposal appears to be narrowly focused on incentivizing businesses to reshore manufacturing operations. Whether it becomes law—and under what conditions—remains to be seen, but the potential tax benefit is significant.
