NAM’s Jay Timmons: “Manufacturers Intend to Deliver on Tax Reform’s Promise”
Manufacturers Intend to Deliver on Tax Reform’s Promise
By Jay Timmons
January 5, 2018
President Trump and Congress promised to pass tax reform by year’s end, and they delivered. Now manufacturers will deliver as well. With our new and internationally competitive tax code, manufacturers will hire more workers, create more well-paying jobs, invest in our communities and put more money in the pockets of manufacturing workers.
The driving purpose behind tax reform was to create more opportunities for more Americans and to benefit manufacturing workers and their families directly. President Trump called tax reform “rocket fuel” for the economy, and manufacturers strongly agreed.
We’ve been given the fuel. Now we will put it to work.
In the NAM’s latest quarterly Manufacturers’ Outlook Survey of our members, most respondents felt confident that tax reform would grow their businesses and help their workers.
Sixty-three percent said comprehensive business tax reform would encourage their companies to spend more on their facilities and equipment, and 58 percent said they would expand their businesses.
In addition, 54 percent said they would hire more workers, and almost half (49 percent) planned to increase wages and benefits.
This is the promise of tax reform. This is the promise manufacturers made. And this is the promise we intend to keep.