Policy and Legal

Washington, D.C. – The National Association of Manufacturers released its Q2 2025 Manufacturers’ Outlook Survey, revealing that optimism among manufacturers across the country has dropped sharply. Only 55.4% of respondents report a positive outlook for their companies—a nearly 15-percentage-point drop from Q1 and the lowest level since the height of the COVID-19 pandemic in Q2 of 2020.

The survey conducted earlier this month revealed that 85.4% of manufacturers believe Congress should preserve pro-growth tax policies in response to trade uncertainty.

Trade uncertainty remained the top business concern for the second consecutive quarter, cited by 77.0% of respondents, followed by increased raw material costs, which was cited by 66.1% of respondents.

“These numbers are yet another indicator that manufacturers need increased policy certainty. Congress must act urgently to preserve tax reform and empower manufacturers to make the long-term investments that drive the American economy,” said NAM President and CEO Jay Timmons. “The stakes are high: preserving tax reform will prevent the loss of 6 million jobs and avoid a $1 trillion hit to the economy—that’s why manufacturers are calling on the Senate to preserve pro-manufacturing tax policies from the House-passed reconciliation bill, while also taking steps to ensure the final package is maximally beneficial for our industry. Pro-manufacturing tax policies are a critical component of a comprehensive manufacturing strategy; this quarter’s results also show that manufacturers need a strategic approach to trade policy that allows our industry to reduce costs and access the inputs we need to make things in America.”

The NAM releases these results to the public each quarter. Further information on the survey is available here.

-NAM-

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 nearly 13 million men and women, contributes $2.93 trillion to the U.S. economy annually and accounts for 53% of private-sector rese arch 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.

The U.S. Supreme Court has put limits on a procedural requirement that has become a major roadblock for infrastructure and energy projects: environmental review under the National Environmental Policy Act.

The background: The predecessor of substantive statutes like the Clean Water and Clean Air Acts, NEPA is the “the single most litigated environmental statute,” NAM Vice President and Deputy General Counsel Erica Klenicki told us.

• In this case, local government and environmental groups brought a NEPA challenge to the Surface Transportation Board’s approval of an 88-mile rail line in Utah’s Uinta Basin, which would connect to the national rail network and carry crude oil to refinery markets along the Gulf Coast.
• The board approved the project after issuing a comprehensive, 3,600 page environmental impact statement under NEPA.
• But that wasn’t enough—the D.C. Circuit blocked the board’s approval, ruling that its exhaustive analysis failed to consider the repercussions of more oil production made possible by the rail line. It contended that the board should have considered the potential impact of increased oil refining on Gulf coast communities thousands of miles away—even though the board had no power at all to control for those effects.

The issue: The NAM filed an amicus brief in the case, urging the court to reject the premise adopted by the D.C. Circuit—that NEPA requires agencies to analyze the effects of upstream or downstream projects over which they do not exercise regulatory authority.

• Yesterday, the justices ruled 8–0 (Justice Neil Gorsuch recused himself) that the board did not have to consider such sweeping effects when evaluating whether to approve a project.

What they said: “NEPA is a procedural cross-check, not a substantive roadblock,” Justice Brett Kavanaugh wrote . “The goal of the law is to inform agency decision-making, not to paralyze it.”

• “Courts should review an agency’s [environmental impact statement] to check that it addresses the environmental effects of the project at hand. The EIS need not address the effects of separate projects,” Kavanaugh wrote. “In conducting that review, courts should afford substantial deference to the agency as to the scope and contents of the EIS.”

The NAM’s advocacy: The NAM has been a tireless proponent of limiting regulatory overreach, especially the out-of-control permitting process that strangles important new infrastructure and energy projects.

• “The congressional intent behind NEPA when it was passed was to make sure a specific project could be reviewed for its environmental impact—not to slow down progress on important economic growth,” said NAM Director of Energy and Resources Policy Michael Davin. “The U.S. should learn from other nations and review projects for environmental impacts without taking years and years to approve them.”

The NAM’s Q2 Manufacturers’ Outlook Survey, released today, shows that manufacturers’ optimism about the future is dropping precipitously.

The headline number: Only 55.4% of respondents report a positive outlook for their companies—a nearly 15-percentage-point drop from Q1 and the lowest level since the height of the COVID-19 pandemic in Q2 of 2020.

• Manufacturers do have a prescription for renewed confidence, however, as 85.4% of respondents believe Congress should preserve pro-growth tax policies in response to trade uncertainty.

Worried about trade: Trade uncertainty remained the top business concern for the second consecutive quarter, cited by 77.0% of respondents.

• Almost as alarming is the increase in raw material costs, which was cited by 66.1% of respondents.

The NAM says: “These numbers are yet another indicator that manufacturers need increased policy certainty. Congress must act urgently to preserve tax reform and empower manufacturers to make the long-term investments that drive the American economy,” said NAM President and CEO Jay Timmons.

• “The stakes are high: preserving tax reform will prevent the loss of 6 million jobs and avoid a $1 trillion hit to the economy—that’s why manufacturers are calling on the Senate to preserve pro-manufacturing tax policies from the House-passed reconciliation bill, while also taking steps to ensure the final package is maximally beneficial for our industry.”
• “Pro-manufacturing tax policies are a critical component of a comprehensive manufacturing strategy; this quarter’s results also show that manufacturers need a strategic approach to trade policy that allows our industry to reduce costs and access the inputs we need to make things in America.”

Washington, D.C. – The Manufacturing Leadership Council, the digital transformation division of the National Association of Manufacturers, today released a groundbreaking report, “Shaping the AI-Powered Factory of the Future,” that reveals how manufacturers are embracing artificial intelligence on shop floors. The report, a product of the MLC’s “Future of Manufacturing Project,” underscores the need for a policy framework that supports U.S. AI growth, innovation and leadership—one that streamlines compliance, fosters transparency and aligns energy, workforce, privacy and innovation rules with the realities of smart manufacturing.

AI has become essential to modern, competitive manufacturing in America: for example, manufacturers use cutting-edge AI tools like AI-powered cameras to enhance worker safety and eliminate product defaults, AI simulations to design new products and optimize shop floor operations, and AI data analytics to control costs and manage supply chains more efficiently. Manufacturers are also embedding AI in new, intelligent products. The report shows that 51% of manufacturers already use AI in their operations, with 61% expecting investment in AI will increase by 2027. By 2030, 80% say AI will be essential to growing or maintaining their business.

The report also illustrates that manufacturers face ongoing barriers to using and scaling AI—indicating data quality and accessibility as the top challenges, with 65% of respondents reporting they lack the right data for AI applications and 62% citing data that is unstructured or poorly formatted. 

“Artificial intelligence isn’t new to manufacturing. For years, manufacturers have been developing and deploying AI-driven technologies—machine vision, digital twins, robotics and more—to make shop floors smarter, supply chains stronger and workplaces safer,” said NAM President and CEO Jay Timmons. “The latest report from the MLC reinforces the need for modernized, agile, pro-manufacturing AI policy solutions, so that manufacturers can continue to innovate on shop floors across America. Manufacturers welcomed President Trump’s early commitment to maintaining and advancing America’s global AI dominance, and we look forward to continuing to champion American AI leadership and manufacturing in America, which starts with adopting a pro-AI regulatory framework and pursuing policies that bolster innovation.”

As manufacturers seek to expand their use of AI and unlock its full potential at scale, the report also highlights areas where manufacturers may face challenges and require additional investment, such as modernizing data architectures, developing a more knowledgeable workforce, building organizational trust and accelerating legacy infrastructure upgrades.

The NAM has proposed a series of policy recommendations for policymakers to drive AI development and adoption in manufacturing:

1. Adopt a pro-AI regulatory approach given the growing number and variety of use cases in AI in manufacturing, which require an optimized regulatory environment.
2. Develop the manufacturing workforce of the AI age by supporting training programs, career and technical education institutions and STEM education and immigration. According to the MLC’s report, 82% of manufacturers cite a lack of AI-ready skills as the top workforce challenge.
3. Advance energy and permitting reform to support AI-related data center growth.
4. Protect personal data by passing a comprehensive privacy law that preempts state laws, provides liability protections that prevent frivolous litigation and adopts a risk-based approach that enables innovation and AI.
5. Support U.S. manufacturing of AI chips by executing funding agreements with chip manufacturers and renewing the Advanced Manufacturing Investment Credit.
6. Incentivize U.S. AI innovation by passing the One Big Beautiful Bill Act that preserves pro-manufacturing tax policies.

“A worldwide competition for AI supremacy is underway, and manufacturers have the opportunity to lead the charge with this game-changing technology,” said MLC Founder, Vice President and Executive Director David R. Brousell. “Fast-moving developments in the technology have turbo-charged interest and adoption of AI in its many forms, intensifying competition. To win, manufacturers in America need a strong ecosystem of partners and support to create new, competitive advantages in all facets of the manufacturing industry, from operations, to supply chains, to the workforce—and in their efforts to innovate for the future.”

Background:

Manufacturers have been at the forefront of developing and implementing cutting-edge AI systems that are transforming shop floors and revolutionizing operations.

In March, the NAM submitted comments to inform the White House’s development of an AI Action Plan, explaining how manufacturers are using AI on the shop floor and in operations, with specific recommendations on rebalancing and right-sizing AI regulations to enhance America’s global AI dominance.

In May 2024, the NAM published “Working Smarter: How Manufacturers Are Using Artificial Intelligence”—a report that explains the ways in which manufacturers are already using AI, making the technology integral to modern manufacturing with manufacturers at the forefront of developing and implementing AI systems.

Most recently, the House-passed reconciliation bill included language to prevent a patchwork of state AI regulations that would impede AI innovation and development, in line with the NAM’s advocacy for workable, flexible national standards.

-NAM-

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 nearly 13 million men and women, contributes $2.93 trillion to the U.S. economy annually and accounts for 53% of private-sector rese arch 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.

Featured Quotes from NAM Board Chair Kathy Wengel and Partners of the MLC’s Future of Manufacturing Project

“AI continues to drive innovation, efficiency and better outcomes for manufacturers across America. From accelerating drug discovery and development to optimizing manufacturing operations, AI enables companies to make smarter, faster and more impactful decisions,” said Kathy Wengel, Executive Vice President and Chief Technical Operations and Risk Officer at Johnson & Johnson and Board Chair at the National Association of Manufacturers (NAM). “Importantly, AI empowers employees at all levels, when we equip them with the knowledge and understanding to help shape the implementation of these new technologies. AI is proving to be an essential partner on the shop floor, and we must continue to ensure manufacturing employees have the skills they need to build the future of our industry.”

“The Manufacturing Leadership Council survey shows that while continuous improvement remains a key performance indicator for AI in manufacturing, more manufacturers are starting to see greater value in automation and prediction moving forward. From identifying improvement opportunities to analyzing how people interact with systems, AI is enhancing workplace safety and amplifying the power of the leaders on the floor to solve problems faster before any potential disruption to operations. With 63% of manufacturers meeting or exceeding their targets with AI, this survey shows that this trend is only expected to grow as companies prepare their factories for the future.” – Tim Buschur, Chief Strategy Officer, Invisible AI

“Smart manufacturing is advancing rapidly as manufacturers invest in AI and emerging technologies to drive efficiency and long-term business value. Rockwell Automation is helping address key challenges, such as workforce gaps and technology readiness, through strategic partnerships that accelerate digital transformation. The broader manufacturing sector can benefit from initiatives like this, which share practical expertise and clear guidance to demystify AI and empower organizations at any stage of digital maturity to adopt advanced technologies with confidence.” – Austin Locke, Global Lead of Data Science and AI at Kalypso, a Rockwell Automation business  

“AI is rapidly becoming central to manufacturing operations, yet nearly a third of survey respondents are unsure who oversees AI governance at their company. To fully realize AI’s potential, organizations can build a stronger foundation by implementing robust governance strategies that go beyond the technology itself—fostering cross-functional collaboration among leadership and frontline teams to ensure that data, systems, and people are equipped to use AI effectively in real-world settings.” – Kris Slozak, Director of Consumer and Industrial Products, West Monroe

“Business leaders are already seeing immediate benefits with the use of AI; however, manufacturers still face challenges around inaccessible data, limited employee skillset to leverage AI effectively, and outdated systems and operations. Companies that invest early in strong data governance, smart integration, and cross-functional collaboration will be better positioned to compete and grow.”  – Prasoon Saxena, Global Co-Lead Products Industries, NTT DATA

“AI is already driving measurable value for manufacturers by enhancing decision-making and transforming critical supply chain operations. To fully unlock its potential at scale, investing in modern data infrastructure, enhancing workforce knowledge and skills, and adopting new processes to embrace new ways of working will be essential to help manufacturers remain competitive now and in the future.”  – Richard Weng, Managing Director, Accenture

President Trump signed several executive orders on Friday that call for the reform of the Nuclear Regulatory Commission and will speed up the permitting of new reactors in the U.S. (CNBC).

What’s involved: “Trump said Friday the orders focus on small, advanced reactors that are viewed by many in the industry as the future. But the president also said his administration supports building large plants.”

• “We’re also talking about the big plants—the very, very big, the biggest,” Trump said. “We’re going to be doing them also.”

Going faster: Building new power plants has been a tedious effort thanks to the long licensing and regulatory approval processes.

• Yet the appetite for more nuclear power is there, thanks to the electricity demand from the data centers powering the AI revolution.
• “Three Mile Island is expected to return to service with financial support from Microsoft . . . and Alphabet and Amazon are investing in small, advanced reactors,” CNBC noted.

More uranium: The EOs also aim to boost uranium mining in the U.S. and to increase domestic enrichment and processing capacity, according to an administration official.

• In addition, the orders also “aim to speed up reactor testing at the Department of Energy’s national laboratories.”

The NAM says: “These actions mark an important and timely step toward unleashing American energy dominance safely and responsibly. Nuclear-generated power is an important part of an all-of-the-above energy strategy, which is necessary to meet the power needs of a growing manufacturing sector, and the nuclear fuel supply chain is a critical manufacturing industry that we need to bring home,” said NAM President and CEO Jay Timmons.

• “Rebalancing regulations and expediting permitting reform to unleash American energy are key pillars of a comprehensive manufacturing strategy that Congress must act on so manufacturers can grow, hire and compete—and these orders reflect that vision by reforming the licensing and permitting systems that place burdens on manufacturers.”
• “The NAM looks forward to working closely with the National Energy Dominance Council, under the leadership of Secretary of the Interior Doug Burgum and Energy Secretary Chris Wright, as well as Congress to ensure these policies translate into durable results for manufacturers.”

A big majority of manufacturers expect AI to become essential to their operations by 2030—but they need policymakers to support all that growth and innovation, as a new report from the Manufacturing Leadership Council, the NAM’s digital transformation division, lays out.

By the numbers: The report found that 51% of manufacturers already use AI in their operations.

• Meanwhile, 61% expect investment in AI to increase by 2027.
• That number only grows as manufacturers look further into the future. By 2030, 80% say AI will be essential to growing or maintaining their business.

Current barriers: Right now, manufacturers say some barriers prevent them from implementing AI to its fullest potential.

• They name data quality and availability as the top challenges, with 65% of respondents reporting they lack the right data for AI applications and 62% citing data that is unstructured or poorly formatted.

The policy angle: Manufacturers don’t just need to overcome the technical, logistical or workforce challenges of rolling out AI solutions—challenges that include everything from modernizing data architectures to upskilling and training workers on new tools. They also need a pro-growth policy framework, which the NAM has supplied for policymakers. The key recommendations are:

• Adopt a pro-AI regulatory approach: Given the growing number and variety of use cases of AI in manufacturing, the industry requires an optimized regulatory environment.
• Develop the manufacturing workforce of the AI age: Policymakers should support training programs, career and technical education institutions and STEM education and immigration. According to the MLC’s report, 82% of manufacturers cite a lack of AI-ready skills as the top workforce challenge.
• Advance energy and permitting reform: AI needs a lot of power, and energy and permitting reform is necessary to support AI-related data center growth.
• Protect personal data: Congress should pass a comprehensive privacy law that preempts state laws, provides liability protections that prevent frivolous litigation and adopts a risk-based approach that enables innovation and AI.
• Support U.S. manufacturing of AI chips: Policymakers should execute funding agreements with chip manufacturers and renew the Advanced Manufacturing Investment Credit.
• Incentivize U.S. AI innovation: Congress must pass the One Big Beautiful Bill Act that preserves pro-manufacturing tax policies.

Manufacturers say: “AI continues to drive innovation, efficiency and better outcomes for manufacturers across America. From accelerating drug discovery and development to optimizing manufacturing operations, AI enables companies to make smarter, faster and more impactful decisions,” said Johnson & Johnson Executive Vice President and Chief Technical Operations and Risk Officer and NAM Board Chair Kathy Wengel.

• “Importantly, AI empowers employees at all levels, when we equip them with the knowledge and understanding to help shape the implementation of these new technologies. AI is proving to be an essential partner on the shop floor, and we must continue to ensure manufacturing employees have the skills they need to build the future of our industry.”

The last word: “The latest report from the MLC reinforces the need for modernized, agile, pro-manufacturing AI policy solutions, so that manufacturers can continue to innovate on shop floors across America,” said NAM President and CEO Jay Timmons.

• “Manufacturers welcomed President Trump’s early commitment to maintaining and advancing America’s global AI dominance, and we look forward to continuing to champion American AI leadership and manufacturing in America, which starts with adopting a pro-AI regulatory framework and pursuing policies that bolster innovation.”

The U.S. Court of International Trade, which hears disputes involving international trade and customs laws, struck down President Donald Trump’s International Emergency Economic Powers Act tariffs yesterday.

What happened: In a unanimous opinion, the three-judge panel found that the IEEPA “does not authorize the President to impose unbounded tariffs” and the administration exceeded its authority in imposing the “reciprocal” and fentanyl IEEPA tariffs.

What it means: The finding strikes down the 10% baseline additional “reciprocal” tariffs announced on April 2 as well as the “reciprocal” tariffs of between 20% and 50% on another 65 or so trading partners with which the U.S. runs trade deficits.

• Those tariffs that are currently “paused” were scheduled to snap back into place on July 9 if trade deals were not reached by then.
• The court further nullified the 25% fentanyl IEEPA tariffs on products from Canada and Mexico and the 20% fentanyl IEEPA tariff on products from China.

Refunds? The court also ordered that the IEEPA tariffs collected so far be “vacated,” raising questions about possible refunds.

• The court gave Customs and Border Patrol 10 days to implement the ruling, but the U.S. government may ask for a stay of enforcement—relieving the government of obligation to issue refunds—pending appeal, which could result in CBP continuing to collect but not liquidate tariffs.

An appeal: The DOJ quickly filed an appeal with the U.S. Court of Appeals for the Federal Circuit, and said that it may ask the Supreme Court to pause the ruling as soon as Friday.

Section 232: The ruling does not affect other tariffs the administration has or might impose under Section 232 of the Trade Expansion Act of 1962 on national security grounds.

• NAM filed comments on recent Section 232 tariff investigations into imports of copper, lumber, semiconductors, pharmaceuticals and critical minerals. It also plans to file comments on aerospace.

The U.S. Supreme Court rejected an appeal by a Native American group that would have halted the development of North America’s largest copper mine, a partnership between Rio Tinto and BHP Group (Bloomberg, subscription).

The situation: The appeal attempted to prevent the transfer of federal land to the mining project, due to the religious significance of one area to some members of the San Carlos Apache Tribe.

Why it matters: This site is the third-largest known copper deposit in the world and will be instrumental in the efforts—led by the Trump administration and backed by the NAM—to increase domestic sources of key minerals.

• “Projects such as Resolution have been tied up in legal challenges for years, making the U.S. one of the most challenging places to develop new mines,” Bloomberg noted.

The benefits: “The companies say the mine would supply as much as 25% of U.S. demand and as much as 40 billion pounds of copper over 40 years amid a soaring need for the metal in electric vehicles.”

Next steps: The land transfer may occur as soon as June 16, once the U.S. Forest Service issues a mandatory draft environmental impact statement and record of decision. The companies are still awaiting several federal, state and local permits, however.

The NAM says: “Manufacturers are eager for Resolution Copper to get underway to support strong domestic supply chains of critical materials after years of permitting delays, as well as to create thousands of high-paying jobs,” said NAM Vice President of Domestic Policy Chris Phalen. “The U.S. has an acute need for more mineral production and processing capacity. Policymakers should work to support many more such projects.”

Washington, D.C. – The National Association of Manufacturers today welcomed President Trump’s latest executive orders to expand the development of nuclear energy, streamline federal permitting and strengthen domestic fuel production. NAM President and CEO Jay Timmons issued the following statement:

“These actions mark an important and timely step toward unleashing American energy dominance safely and responsibly. Nuclear-generated power is an important part of an all-of-the-above energy strategy, which is necessary to meet the power needs of a growing manufacturing sector, and the nuclear fuel supply chain is a critical manufacturing industry that we need to bring home.

“The executive orders include measures to accelerate the licensing of next-generation nuclear reactors, open federal lands for energy infrastructure and increase domestic uranium production. Together, these actions address critical supply chain challenges and energy demands—particularly as the AI-driven economy continues to grow.

“Rebalancing regulations and expediting permitting reform to unleash American energy are key pillars of a comprehensive manufacturing strategy that Congress must act on so manufacturers can grow, hire and compete—and these orders reflect that vision by reforming the licensing and permitting systems that place burdens on manufacturers.

“The NAM looks forward to working closely with the National Energy Dominance Council, under the leadership of Secretary of the Interior Doug Burgum and Energy Secretary Chris Wright, as well as Congress to ensure these policies translate into durable results for manufacturers.”

Background:

Most recently, support for nuclear energy in the U.S. has climbed to 61% according to Gallup, reaching just one point below the all-time high in 2010. Support for accelerating the development and commercialization of both traditional nuclear energy plants as well as advanced modular reactors is vital to America’s energy future and the success of manufacturers in the U.S.

The NAM has long championed policies that drive investment in advanced nuclear power to meet rising U.S. energy demand fueled by electrification, advanced manufacturing and the surge in AI and data centers.

These include:

• Reforming the permitting and approval process to make it easier for reactor projects to locate on underused or abandoned sites;
• “Early licensing work” provisions to help deploy reactors more quickly at national security infrastructure sites; and
• A series of awards to encourage companies to develop advanced-reactor technology.

-NAM-

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 nearly 13 million men and women, contributes $2.93 trillion to the U.S. economy annually and accounts for 53% 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.

Washington, D.C. – Following House passage of H.R.1, the “One Big Beautiful Bill Act,” National Association of Manufacturers President and CEO Jay Timmons issued the following statement:

“Today’s House passage of this historic legislation marks a major victory for manufacturers across America. This pro-growth legislation preserves crucial tax policies that will enable manufacturers to create jobs, invest in their communities, grow here at home and compete globally. In short, this is a manufacturers’ bill.

“Manufacturers commend House Speaker Mike Johnson, House Majority Leader Steve Scalise, House Ways and Means Committee Chairman Jason Smith and the House for advancing this critical legislation, and we urge the Senate to act swiftly to build on this momentum.

“The stakes are high: preserving tax reform will prevent the loss of 6 million jobs and avoid a $1 trillion hit to the economy. Manufacturers urge the Senate to maintain the pro-manufacturing policies in the House bill while continuing to work with manufacturers to ensure the final package is maximally effective at supporting manufacturing investment here in the U.S.

“This is a pivotal moment. It’s time to double down on policies that encourage manufacturers to invest and create jobs in America and keep our industry strong and our nation competitive on the world stage—because when manufacturing wins, America wins.”

Background:

To preserve a pro-manufacturing, pro-growth tax code, the House reconciliation bill approved today would:

• Increase the pass-through deduction for small and medium-sized manufacturers and make this important deduction permanent, freeing up capital for businesses to invest and create jobs;
• Make permanent the competitive individual tax rates established by tax reform, benefiting the 96% of manufacturers organized as pass-throughs that pay tax at these rates;
• Increase and make permanent tax reform’s estate tax exemption, protecting more family-owned manufacturers’ assets from the estate tax;
• Reinstate immediate R&D expensing, reducing the costs of groundbreaking research and supporting innovation across our sector;
• Revive full expensing for capital equipment purchases, enabling manufacturers to purchase new machinery and expand their shop floors;
• Restore a pro-growth interest deductibility standard, enhancing manufacturers’ ability to pursue job-creating projects;
• Create an incentive for manufacturers’ investments in new and refurbished facilities, supporting factory construction here in the U.S.;
• Preserve tax reform’s international tax system by making the FDII, GILTI and BEAT regimes permanent, enhancing America’s competitiveness on the world stage; and
• Protect the 21% corporate tax rate, ensuring America remains the best place for manufacturing investment and job creation.

The NAM recently launched a new ad featuring small and medium-sized manufacturers from across the country thanking Chairman Smith and the whole committee for championing the policies in the bill most critical to the manufacturing industry.

-NAM-

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 nearly 13 million men and women, contributes $2.93 trillion to the U.S. economy annually and accounts for 53% 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.