Washington, D.C. – Today, following the release of President Joe Biden’s budget for FY 2022, National Association of Manufacturers President and CEO Jay Timmons released this statement:
“A budget is an important statement of a president’s priorities, and manufacturers are pleased to see President Biden prioritizing bold investments in infrastructure. The president’s clear commitment to ‘investing in ourselves’ is encouraging—and infrastructure is the right place to start. Manufacturers will continue working with both parties to secure a strong infrastructure deal.
“We know the president wants America to succeed and lead, and we agree. There are differences of opinion, however, on how to accomplish that laudatory goal. That is why we remain steadfast in our view that the competitive tax structure for businesses in America that was enacted in 2017 must not be disturbed. After the 2017 tax reform law, America saw the best year for manufacturing job creation in more than two decades, and the NAM’s recent tax study showed that tax increases under consideration would eliminate 1 million jobs in just the first two years. We can’t truly move forward as a country if we take a giant step backward with archaic tax laws.
“Manufacturers are confident that by working together in a bipartisan manner, we can find common ground that lifts everyone up and leaves no one behind. We look forward to continuing to work with the administration and members of the House and Senate from both political parties to accomplish exactly that.”
The National Association of Manufacturers 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 12.3 million men and women, contributes $2.35 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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 NAM or to follow us on Twitter and Facebook, please visit www.nam.org.