NAM Survey: Tax Reform Will Supercharge Manufacturing Growth

Promise of Tax Reform Drives Record Optimism Among Manufacturers

Washington, D.C., September 29, 2017 – The National Association of Manufacturers (NAM) today released the results of the Manufacturers’ Outlook Survey for the third quarter of 2017, which showed that the promise of tax reform has led to the highest three-quarter average of manufacturer optimism ever recorded by the NAM.

Throughout the debate on tax reform, manufacturers have been leading the charge for a bold legislative package that will spur growth and create jobs among both small and large manufacturers. 

In fact, a strong majority of manufacturers who took part in the recent survey said a pro-growth tax reform package would make them more likely to expand their business (64.3 percent), hire more workers (57.3 percent) and increase employee wages and benefits (52.2 percent).

The survey also found optimism among small and large manufacturers reached the highest three-quarter average in the survey’s 20-year history of 90.87 percent, up significantly from last year’s three-quarter average of 59.77 percent.

“Manufacturers overwhelmingly agree on the path forward on tax reform, and it is a path that leads to more jobs, higher wages and a stronger economy for all Americans,” said NAM President and CEO Jay Timmons. “There is record-level optimism among manufacturers of all sizes, and it is in no small part because President Donald Trump has delivered on his commitment to put the full weight of the White House behind bold tax reform. Now is the time to think long term and act boldly. Our future depends on it.”

The release of the survey coincided with an address by President Trump at the NAM’s Board of Directors meeting. At the event, President Trump made a forceful case for pro-growth tax reform that will boost the manufacturing economy.

For 20 years, the NAM has surveyed its membership of more than 14,000 large and small manufacturers to gain insight into their economic outlook, hiring and investment decisions and business concerns. The NAM releases these results to the public each quarter. Further information on the survey is available here.

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The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.17 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org..