ICYMI: NAM’s Timmons Discusses Tax Reform, Record Manufacturer Optimism on CNBC

Timmons on Tax Reform: “The President Calls That ‘Rocket Fuel’; I Agree with That.”

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Timmons on New NAM Survey Showing Record Manufacturer Optimism

“It’s a 20-year high. We’ve been doing this survey for 20 years. This is the highest number we have ever seen. We said the exact same thing in the first quarter of this year. We had a record high then, and it has just continued with really strong numbers. And here’s why: to answer your question, it is the belief that government right now is focused on reducing the cost of doing business in the United States so that we can invest more, hire more and provide better pay and benefits for our workers. That’s good news for manufacturers, and they are very excited about the possibilities ahead. Tax reform is right front and center of that optimism.

Timmons on Manufacturers’ Priorities for Tax Reform

“[A]ssuming we get it right—assuming we make sure we have that 20 percent corporate rate and a similar competitive rate for pass-throughs, and assuming we get the territorial system in, assuming we get expensing for interest deductibility and get rid of that silly AMT thing they were talking about for a while—if we get it right, we’re going to grow this economy. The president calls that ‘rocket fuel’; I agree with that. Couple that with regulatory reform, reducing the burdens on manufacturers who are just simply trying to do the right thing and make ends meet, hire new people, I think there’s no end in sight to how we can grow this economy.”

Click here for more on the NAM’s Fourth Quarter Manufacturers’ Outlook Survey.

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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..