Manufacturers Bullish On Tax Reform

‘Manufacturers Are Saying Loudly And Clearly That More Jobs, Better Pay And Manufacturing Growth Are On The Horizon’

“The National Association of Manufacturers said Monday its latest quarterly CEO survey reflects historically high optimism on expectations for the passage of tax reform in Washington. The trade group said CEO optimism — hitting a high mark in 20 years of the survey — should send a message to legislators that failure to enact the bill would be a blow to American business.” (“Manufacturing CEO Survey Shows Record High Optimism On Prospect Of Tax Reform,” CNBC, 12/11/2017)

“Each quarter, the NAM surveys 14,000 large and small manufacturers to gain insight into their economic and hiring outlook… Nearly 63 percent said comprehensive business tax reform would encourage their company to increase capital spending, and more than half said they would expand their businesses (57.9 percent).” (“Manufacturing CEO Survey Shows Record High Optimism On Prospect Of Tax Reform,” CNBC, 12/11/2017)

• “Almost 54 percent of CEOs in the survey said they would hire more workers, and nearly half (48.8 percent) said they would increase employee wages and benefits.” (“Manufacturing CEO Survey Shows Record High Optimism On Prospect Of Tax Reform,” CNBC, 12/11/2017)

JAY TIMMONS, National Association of Manufacturers President and CEO: “These incredible numbers demonstrate the absolute urgency of getting tax reform signed into law because manufacturers are saying loudly and clearly that more jobs, better pay and manufacturing growth are on the horizon.” (“Manufacturing CEO Survey Shows Record High Optimism On Prospect Of Tax Reform,” CNBC, 12/11/2017)

Manufacturers: ‘Tax Reform Will Enable Us To Provide Our Employees With Better Salaries, Wages And Benefits’

SEN. ROY BLUNT (R-MO): “Jim Sheldon owns a business called DT Engineering, which is a manufacturing company in Lebanon, MO. They produce industrial automation systems. When Jim was interviewed by the National Association of Manufacturers and asked what tax reform would mean to his company in terms of investment, hiring, and growing his business, he said: ‘More business! Bringing work back to the [United States] will increase order rates, inventory, and development. This will create growth for DT Engineering.’ Jim also said that benefits from tax reform will allow him to ‘reinvest to reinvent.’” (Sen. Blunt, Congressional Record, S. 7378, 11/29/2017)

• SEN. BLUNT: “Mike DeCola, who owns a business called HBM Holdings in St. Louis, was interviewed by NAM…. He was asked what this tax reform would mean to his business, and he said: ‘Tax reform will unleash investment not just for us, but for our customers.’” (Sen. Blunt, Congressional Record, S. 7378, 11/29/2017)

SEN. ROB PORTMAN (R-OH): “We know that simplifying our broken tax code will create more American jobs and increase wages, but it will also provide a significant boost to Ohio’s auto manufacturers and their workers.  When Ohio manufacturers have a level playing field, we can compete and win against anyone. Unfortunately, for too long, our tax code has caused American manufacturers to compete with one hand tied behind their back…. By lowering tax rates for individuals and businesses, and getting rid of tax loopholes used primarily by a select few, we can put more money back into workers’ paychecks, create more jobs here at home, and jumpstart our economy.” (Sen. Portman, Press Release, 10/11/2017)

“‘The single most important thing that we need to see out of tax reform is permanent, more competitive tax rates,’ said Austin Ramirez, president and CEO of HUSCO International, a Wisconsin-based hydraulic and electro-hydraulic component manufacturer. ‘I compete against competitors in Asia and Europe who are operating in a different paradigm with lower tax rates, and the high rates in the U.S. make us less competitive.’” (“Manufacturing CEO Survey Shows Record High Optimism On Prospect Of Tax Reform,” CNBC, 12/11/2017)

“‘Tax reform will enable us to provide our employees with better salaries, wages and benefits which will have a real impact to improve the standard of living for them and their families,’ said Bruce Pulkkinen, senior advisor and former president of the third generation, family-owned architectural woodworking company, Windham Millworks in Maine. ‘We can't accept the status quo anymore.’” (“Manufacturing CEO Survey Shows Record High Optimism On Prospect Of Tax Reform,” CNBC, 12/11/2017)