NAM Board Chair Rallies Business Leaders Behind Tax Reform

Farr: “This Should Be Something That Can Bring Us All Together. This Is a Chance to Seize a New Day.”

Detroit, Michigan – David Farr, chairman and CEO of Emerson and chair of the board of the National Association of Manufacturers (NAM), will deliver a speech today at the Michigan CEO Summit laying out the stakes of passing tax reform.

With the legislative process moving forward on Capitol Hill, Farr will call on the business community to unify behind the overhaul by stressing the positive impact it will have on manufacturers of all sizes and highlighting how opponents would harm workers and our economy.

The speech can be viewed live at 12:50 p.m. EST here. Below are key excerpts from Farr’s remarks, which will be available in full here following the speech’s conclusion.

*** Excerpts as Prepared for Delivery ***

“[W]e also have a once-in-a-generation chance to enact tax reform that will help our workers, our manufacturers, our whole country from a U.S. business perspective. Leaders in the House, Senate and the Trump administration put out a framework for reform late last month. It was a bold step in the right direction for U.S. manufacturers.

“A huge win for the manufacturing industry—large, medium and small-sized companies. Now, we, business leaders, have to help them. They could be voting next week. This is happening fast—and they need to stand strong, stand with manufacturing workers and their companies. Please let your representatives know you want bold change, bold action now to help U.S. manufacturers win!

“Manufacturers are excited about getting their competitive edge back and not competing with their “hands tied behind their backs”! They are excited to expand their operations right here in America, hire new people and see their workers go home with bigger paychecks—and to support our communities like Detroit!

“Other countries have figured it out. They have lowered their tax rates. They have simplified their tax systems. They have given themselves a big advantage—a huge advantage—in the competition for jobs and business and growth.

“When you add up the small business provisions in the House bill, you’re looking at nearly a half-trillion dollars in tax relief over the next decade … This should be something that can bring us all together. This is a chance to seize a new day. And U.S. manufacturers do not want to see it wasted. We truly need it, as does the U.S. economy.

“Securing the future of modern manufacturing means having a tax code that lives up to the realities of the modern world. And I hope you are willing to speak out and take a stand—and show America that this is about far more than just more money for business; it is about increased economic prosperity and expanding the U.S. economic pie for all Americans—for all workers and their families.”

-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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