President Trump’s new megalaw includes a restructured deduction that is driving down tax rates for capital-intensive manufacturers of aircraft and other products. This tax benefit is a welcome surprise for U.S. exporters. The deduction allows companies to reduce their taxable income by a percentage of their earnings from making products in the U.S., which in turn lowers their overall tax bill. The impact of this deduction is particularly significant for industries that require high levels of capital investment, like aircraft manufacturing. By lowering tax rates for these capital-intensive manufacturers, the new law aims to boost domestic production and exports, ultimately benefiting the U.S. economy.

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