Manufacturing Voters Oppose Corporate Minimum Tax
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The vast majority of manufacturing voters in Arizona disapprove of the U.S. Senate’s proposal to impose a “corporate minimum tax,” according to the results of a joint NAM–Arizona Chamber of Commerce & Industry snap poll yesterday.
The results: More than 90% of the manufacturing voters polled are against the tax, while 91% said it would harm manufacturers’ ability to invest in their businesses, upgrade facilities and buy new machinery.
- Respondents also said the measure would put both manufacturing jobs and the U.S. economy in jeopardy.
The NAM’s view: “With the U.S. and Arizona economies already showing signs of weakening, this is the wrong time to further undermine growth and the manufacturing sector’s overall competitiveness,” NAM Chief Economist Chad Moutray said.
- Moutray cited analyses by the nonpartisan Joint Committee on Taxation and the NAM that found the tax would disproportionately harm manufacturers.
- This tax “will make it harder to hire more workers, raise wages and invest in our communities,” Moutray continued. “Arizona’s manufacturing voters are clearly saying that this tax will hurt our economy.”
The Arizona Chamber says: “In the face of record-high inflation, supply chain backlogs and a major labor crunch, now is not the time to hammer manufacturers with new taxes,” Arizona Chamber of Commerce & Industry President and CEO Danny Seiden said.
- “Arizona job creators will continue to urge lawmakers to reject this manufacturers tax and instead focus on policies that encourage job growth and strengthen our state and national economic competitiveness.”
Related
Manufacturers Unveil Competitiveness Agenda Ahead of Midterm Elections
“Competing to Win” offers a path for bringing the country together around policies, shared values and a unified purpose
Washington, D.C. – Ahead of the midterm elections, the National Association of Manufacturers released its policy roadmap, “Competing to Win,” a comprehensive blueprint featuring immediate solutions for bolstering manufacturers’ competitiveness. It is also a roadmap for policymakers on the laws and regulations needed to strengthen the manufacturing industry in the months and years ahead.
With the country facing rising prices, snarled supply chains and geopolitical turmoil, manufacturers are outlining an actionable competitiveness agenda that Americans across the political spectrum can support. “Competing to Win” includes the policies manufacturers in America will need in place to continue driving the country forward.
“‘Competing to Win’ offers a path for bringing our country together around policies, shared values and a unified purpose,” said NAM President and CEO Jay Timmons. “The NAM is putting forward a plan filled with ideas that policymakers could pursue immediately, including solutions to urgent problems, such as energy security, immigration reform, supply chain disruptions, the ongoing workforce shortage and more. Manufacturers have shown incredible resilience through difficult times, employing more workers now than before the pandemic, but continued resilience is not guaranteed without the policies that are critical to the state of manufacturing in America.”
The NAM and its members will leverage “Competing to Win” to shape policy debates ahead of the midterm elections, in the remainder of the 117th Congress and at the start of the 118th Congress—including in direct engagement with lawmakers, for grassroots activity, across traditional and digital media and through events in key states and districts as we did following the initial rollout of the roadmap in 2016.
The document focuses on 12 areas of action, and all policies are rooted in the values that have made America exceptional and keep manufacturing strong: free enterprise, competitiveness, individual liberty and equal opportunity.
Learn more about how manufacturers are leading and about the industry’s competitiveness agenda at nam.org/competing-to-win.
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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 12.8 million men and women, contributes $2.77 trillion to the U.S. economy annually and accounts for 58% 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
