Tax & Budget

Tax and Budget Header

Manufacturers believe comprehensive tax reform is essential to unleashing the economic power of manufacturing, and making the United States the best place in the world to manufacture and attract foreign direct investment. Our nation’s tax system, with extremely high rates for both corporate and pass-through businesses, an out-of-date anti-competitive system for taxing international income and a significant compliance burden has created an uncertain environment that undermines manufacturers’ ability to compete and succeed in the global marketplace. In contrast, a 21st century tax code that lowers tax rates for all businesses, provides a strong, permanent R&D incentive and robust capital cost recovery rules and moves towards a modern, territorial international tax system will promote U.S. economic growth and job creation. Manufacturers have been leading the charge for pro-growth, pro-competitiveness tax reform for the better part of a decade, a goal that is more important now than ever before.

Tax Reform 101


NAM chair calls for fiercely competitive tax code. Read the full testimony here.

The NAM is leading the charge for substantive, thoughtful reforms that will lift manufacturers in the United States and our overall economy to greater heights.

Issues that the NAM's Tax and Budget Committee work on include:

  • Comprehensive Tax Reform
  • Capital Cost Recovery
  • Corporate Tax Rates
  • Research and Development Incentive
  • International Tax
  • Estate Tax
  • LIFO
  • Base Broadeners
  • Employee Benefits, Pensions, and Retirement Security
  • Health Care Taxes
  • Federal Spending (Including: Defense Manufacturing, Debt Ceiling, Deficit Reduction, Entitlement Reform)
  • Tax Reform 

NAM in the News

Press Releases

  • 07/07/2016
    ICYMI: Section 385 Regulations to Have Significant Negative Impact on Manufacturers
    NAM President and CEO Jay Timmons and U.S. Chamber of Commerce President and CEO Tom Donohue issued a joint statement calling on the Senate to act to restore a quorum to the Board of Directors of the U.S. Export-Import (Ex-Im) Bank.
  • 12/30/2015
    2015: A Year of Historic Victories for Manufacturers
    NAM President and CEO Jay Timmons issued a statement after a year of historic victories for America’s manufacturers and job creators.
  • 12/18/2015
    Timmons: This Is an Historic Victory for Our Country
    NAM President and CEO Jay Timmons issued a statement after Congress passed historic spending legislation with many key manufacturing priorities including significant business tax relief, an end to the ban on crude oil exports, a two-year delay of the Cadillac tax, a repeal of onerous Country-of-Origin labeling requirements and new rules to ease the public–private exchange of cybersecurity information.