Manufacturers Speak Out About Benefits of Tax Law

Manufacturers are telling the public about the extensive benefits of last year’s tax law. In a series organized and publicized by the House Ways and Means Committee and Chairman Jason Smith (R-MO), several manufacturers have told their own stories of the tax law’s positive impact on their growth, hiring and competitiveness.

i2M: i2M CEO Alex Grover cited R&D expensing, saying that it had helped i2m to develop multiple products, which has allowed the company to compete globally. She also spoke about the expansion of immediate expensing, which has helped the company fund its $30 million investment that will provide 30 to 40 new jobs while onshoring production of a product currently supplied from overseas.

• Grover also said that she was grateful to the NAM and the Ways and Means Committee for getting the legislation passed.
• Her advice to lawmakers: “Keep your foot on the gas and continue to believe in the future of manufacturing.”

Tombigbee Tooling: Payne Thornton, owner of Tombigbee Tooling, also mentioned R&D expensing, citing its benefits to family-owned firms like his own. “When American manufacturers are stronger and more financially viable, we’re able to pay more, we’re able to attract more talent to manufacturing,” he said. That job creation allows more people to support their families, he added.

RCO Aerospace Products: H.R. 1 has allowed RCO Aerospace to pay its employees well and invest more in R&D, thus strengthening the domestic aerospace and defense industries, said General Manager Jeff Simek. “Our country needs to bring manufacturing back and [H.R. 1] has been a great catalyst,” he said.

Williams RDM: CEO Melissa Hoskins mentioned that her company has recently moved into a facility twice the size of the previous one, helped by the savings of immediate R&D expensing and other provisions of H.R. 1. Like the other manufacturers, she thanked President Trump and Congress for getting these pro-growth tax policies passed.

The bottom line: Manufacturers’ stories have reached the highest levels of government and ordinary Americans across the country, reinforcing the importance of pro-growth tax policy.

• For other stories, check out the NAM’s tax advocacy and influential flipbook, featuring 50 manufacturing stories from 50 states about the benefits of H.R. 1. It includes Williams RDM representing Texas, Tombigbee Tooling representing Mississippi and i2M representing Pennsylvania.