Timmons: This Is an Historic Victory for Our Country

Manufacturers Were Essential and Vocal Advocates in Washington; Thanks Congress for Advancing Manufacturing Priorities

Washington, D.C., December 18, 2015 – National Association of Manufacturers (NAM) President and CEO Jay Timmons issued the following statement after Congress passed historic legislation with many key manufacturing priorities including significant business tax relief, an end to the ban on crude oil exports, a two-year delay of the Cadillac tax, a repeal of onerous Country-of-Origin labeling requirements and new rules to ease the public–private exchange of cybersecurity information:

“This is an historic victory for our country. It’s a victory for American workers and middle-class families, and it’s a victory that manufacturers worked hard to deliver. Across this country, manufacturers have spoken out, and Congress has finally listened by taking action on so many of our top priorities.

"Manufacturers worked tirelessly to secure provisions in the legislation that make permanent the R&D credit and enhanced write-offs for small businesses and extend, for several years, bonus depreciation for all companies and provisions to help domestic manufacturers compete globally. We are also very pleased with the suspension of the medical device and health insurance taxes and the delay of the employee benefits, or ‘Cadillac’ tax. These important tax law changes will spur innovation and new investment in the United States.

“Lifting the export ban on crude oil will open new opportunities, while bringing the United States in line with our international commitments. The repeal of Country-of-Origin labeling provisions will shield manufacturers from costly retaliatory tariffs. New cybersecurity information-sharing rules will help manufacturers mitigate serious cyber risks while ensuring critical information remains private.

“While there's still more work to do, this legislation will mean manufacturers in America will start the new year in a stronger position in relation to our international competitors.”

To learn more about the manufacturing priorities, visit our website www.nam.org.

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 $2.09 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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