NAM to Key-Vote House Passage of Tax Cuts and Jobs Act Conference Report

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

“For years, manufacturing workers have sought an updated tax code that spurs economic growth and global competitiveness. Instead, they have a system that holds our nation back due to high tax rates on our small manufacturers, the backbone of our economy, and hinders large manufacturing enterprises that provide livelihoods for millions of families. Manufacturers are saddled with arcane rules for taxing international income and significant compliance burdens that exacerbate our competitive disadvantage. We are counting on you to lift up these hardworking men and women,” NAM Senior Vice President of Policy and Government Relations Aric Newhouse wrote in a letter announcing the key vote.

“The Conference Report to H.R. 1 takes the important steps toward addressing five key elements that NAM members believe will set the stage for manufacturing growth: a lower corporate rate, reduced burdens 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,” Newhouse added. “While this bill could go even further to address these key areas that promote added economic growth, it still provides the opportunity to strengthen the manufacturing economy. With this vote, you have the ability to improve manufacturers’ global competitiveness, grow the economy, spur investment and create more well-paying manufacturing jobs.”

The key-vote announcement follows months of engagement by the NAM with Congress and the White House on tax reform. 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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