Manufacturers’ Support Demonstrates Tax Reform Is “A Nonpartisan Issue"

AICC, through its membership in the Council of Manufacturing Associations, is pleased to present the "Manufacturing Economic Daily Newsletter” from the NATIONAL ASSOCIATION OF MANUFACTURERS (NAM).

The Hill (5/20, Jagoda) reports that “prominent business groups for years had dreamed of an overhaul of the tax code that would cut taxes for corporations and small businesses and revamp the US’s system of taxing corporations’ foreign earnings,” arguing that tax reform “would allow companies to hire more employees and make new investments to grow their businesses.” Since the passage of tax reform, the article adds, “groups have been working to make the case that the tax law is working as promised.” According to The Hill, “The National Association of Manufacturers has expanded its grassroots advocacy team, which is connecting lawmakers to manufacturers in their districts that say they are being helped by the tax law. The group held an event with [Congresswoman Barbara] Comstock in April and is planning to hold events with other lawmakers in competitive districts in the future.” In addition, “The NAM is also highlighting testimonials from manufacturers who made investments, boosted hiring and gave employees wage increases and bonuses following the tax law’s passage,” and “the testimonials are from businesses in both Republican and Democratic areas.” NAM Vice President of Tax and Domestic Economic Policy Chris Netram is quoted saying, “From a policy perspective, this is a nonpartisan issue.”

Column: Tax Reform Already Having Positive Impact On US Economy.In a column for The Hill (5/18), Americans for Tax Reform President Grover Norquist and Americans for Tax Reform Director of Tax Policy Alex Hendrie wrote that “the tax cuts passed by Congress and signed into law by President Trump six months ago are already impacting our nation,” and listed ways in which the reforms are currently benefiting American companies and workers. They wrote that “more than 93 percent of manufacturers reporting a positive outlook in the first quarter of 2018, according to a survey by the National Association of Manufacturers.” Norquist and Hendrie added, “Optimism among middle market businesses is also at a record high. Roughly 60 percent of businesses plan to hire more workers and increase wages in the second or third quarter of 2018, while half of businesses have already increased hiring and increased wages in 2018.” 

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