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.”