Manufacturers to Rep. Katko: Vote for Historic Tax Reform

Washington, D.C – The National Association of Manufacturers (NAM) announced in a letter today to members of the U.S. House of Representatives, including Rep. John Katko (R-NY), that it will key-vote H.R. 1, the Tax Cuts and Jobs Act.

“America’s manufacturing workers need bold tax reform to not just better their job prospects but also to better their lives. We are counting on you to lift these hardworking men and women up, and not let them down. With this vote, you have the ability to improve manufacturers’ global competitiveness, grow the economy, spur investment and create more well-paying manufacturing jobs,” NAM Senior Vice President of Policy and Government Relations Aric Newhouse wrote in a letter announcing the key vote. “H.R. 1 includes five key elements that NAM members believe will set the stage for manufacturing growth: a lower corporate rate, reduced rates on business income earned by pass-through entities, a territorial tax system, robust incentives for capital equipment purchases and retention of tax incentives for research and development.
“In the most recent NAM outlook survey, two-thirds of manufacturers indicated that they will increase capital spending and grow their businesses if comprehensive tax reform were enacted. That is significant because every $1.00 spent in manufacturing adds an additional $1.89 to the economy. The survey also indicated that most manufacturers will hire more workers and increase wages and benefits,” Newhouse added. “In short, passing historic tax reform will lead to new opportunities for more people to achieve their American Dream.”

The key-vote announcement follows months of engagement by the NAM with Congress and the White House on tax reform. Most recently, Emerson Chairman and CEO David Farr, who chairs the NAM Board of Directors, rallied business leaders behind tax reform in a speech at the Michigan CEO Summit last week.

View the full key-vote letter sent to members of the U.S. House of Representatives 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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