Salisbury, NC – The National Association of Manufacturers (NAM) and Power Curbers, Inc. hosted Rep. Ted Budd (R-NC) for a facility tour to meet employees and a business leader roundtable on Monday to discuss the real-world impact of tax reform and other ways Congress can better serve the interests of North Carolina manufacturers, manufacturing workers and their families.
When Rep. Budd cast his vote for tax reform last year, he sent an unmistakable message that he stands with North Carolina manufacturing workers. Today, North Carolinians are seeing the good news and positive results of tax reform for themselves in the form of new jobs, rising wages, bonuses and manufacturing growth, said NAM President and CEO Jay Timmons. Last year, manufacturers told Congress that if they delivered tax reform, we would deliver for our people and our communities. Rep. Budd and his colleagues did their part, and now manufacturers are keeping our promise.
During the visit, company leaders thanked Budd for voting in favor of the historic tax reform package and reiterated their optimism for the future of manufacturing in North Carolina.
The positive changes we are seeing throughout the U.S. economy thanks to the GOP Tax Cuts and Jobs Act cannot be overstated, said Budd. We have seen a major power shift from bureaucrats in Washington to every day Americans. People are seeing more money in their paychecks, more job opportunities and consumer confidence is at an 18-year high. We know that the manufacturing industry has not escaped this good news. Crediting the GOP tax cuts, 93 percent of manufacturers say they have a positive outlook, 86 percent say they plan to increase investments and 77 percent plan to increase hiring. The manufacturing industry is a major part of this overall economic success and I will continue to look for ways to get government out of the way of this important economic engine.
The roundtable focused on the importance of building on the momentum of tax reform to ensure manufacturers can continue to invest in their businesses and workers.
All of us at Power Curbers Companies are pleased with Rep. Budd’s vote to enact the new tax law, said Dyke Messinger, President of Power Curbers, Inc. Our employment has grown since the law was enacted; we paid a bonus for 2017 and will pay another bonus for the first six months of 2018. In addition, we are investing heavily in R&D, which will continue to strengthen the company for the long term.
Manufacturing contributes an estimated $2.25 trillion to the U.S. economy and supports 460,200 jobs in North Carolina alone, according to the NAM. In the six months since tax reform was enacted, the manufacturing industry has added 115,000 jobs—double the 63,000 created over the same period last year.
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 $2.25 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.