NAM Announces Key-Vote on Critical Tax Reform Measure

Washington, D.C., October 19, 2017 – The National Association of Manufacturers (NAM) announced in a letter to U.S. senators that it will key-vote H. Con. Res. 71, the vehicle for the Senate’s FY 2018 Budget Resolution. As reported by Politico, Emerson Chairman and CEO and NAM Board Chair David Farr yesterday met with key senators ahead of the vote to push for passage of this critical tax reform measure.

“The National Association of Manufacturers, the largest manufacturing association in the United States, representing manufacturers in every industrial sector and in all 50 states, urges you to support H. Con. Res. 71, the vehicle for the Senate’s FY 2018 Budget Resolution,” NAM Senior Vice President of Policy and Government Relations Aric Newhouse wrote in a letter to senators announcing the key vote. “This resolution takes the critical first step towards reforming our nation’s tax code. Our outdated tax code saddles manufacturers, large and small, with high statutory rates, keeps foreign earnings trapped offshore and saps resources that could be used to fuel growth.

“Manufacturers continually rank tax costs as a top business challenge with more than 87 percent of respondents to the most recent NAM outlook survey indicating that pro-growth tax reform would address their concerns,” Newhouse added. “Moreover, more than 60 percent of survey respondents indicated that tax reform would make their company more likely to increase capital spending or expand their businesses—which is significant because every $1.00 spent in manufacturing adds an additional $1.81 to the economy.”

The key-vote announcement follows the NAM’s engagement in Arizona, Kentucky and Tennessee, where NAM President and CEO Jay Timmons held conference calls with local manufacturing leaders urging Sens. John McCain, Rand Paul and Bob Corker to support the budget resolution.

View the full key-vote letter sent to senators here.

-NAM-


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..

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