Manufacturers: House Budget Provides Opportunity to Lead
Plan Calls for Responsible Pro-Growth Tax Reform, Derails Defense Cuts
National Association of Manufacturers (NAM) President and CEO Jay Timmons issued a statement in response to the release of the House Republican budget for Fiscal Year 2013:
“Chairman Ryan today put forth a credible, fiscally responsible budget plan that will pave the way for durable economic growth and job creation in the United States. The blueprint includes a comprehensive tax reform plan that incorporates lower tax rates for businesses of all sizes and a move to a more competitive territorial tax system.
Manufacturers also appreciate that the plan avoids the pending cuts in defense spending set for 2013 that threaten both our national and economic security. At the same time, given the historically high level of the national debt, we support the focus on both real and immediate spending cuts and longer-term changes. In particular, we need fundamental reform of entitlement spending if we are ever going to get our fiscal house in order.
Manufacturers have consistently said that the federal budget is an opportunity to lead. The budget proposed today offers fiscally responsible tax policy that spurs growth and job creation. It takes us off the current debt crisis path and provides a new alternative that will help narrow the 20 percent cost disadvantage that manufacturers face with our global competitors. This is a good start, and manufacturers look forward to being part of the ongoing debate on how to best budget for our future.”