Tax

Rep. Tim Walberg (R-MI) recently visited Madsen Steel Wire Products in Bronson, Michigan, to discuss critical tax priorities with company leadership and members of the National Association of Manufacturers.

The visit, led by Madsen Steel Wire Products General Manager Steve Cochran, focused on the importance of maintaining a competitive tax code to support growth and innovation in the manufacturing sector in the face of scheduled expirations of key pro-manufacturing tax policies in 2025. The visit also underscored the essential role manufacturing plays in economic growth and stability.

The topline: During the tour, Rep. Walberg witnessed firsthand the impact of pro-growth tax policies on manufacturers.

• “Visiting Madsen Steel Wire Products reinforced the need for tax policy that supports manufacturing growth and job creation,” Walberg said. “We in Congress must act before the end of 2025 to preserve 2017 tax reform and avoid the devastating impacts to small manufacturers that will come to pass if these pro-growth policies are not preserved.”

A close-up view: Cochran shared the company’s experience with 2017 tax reform, highlighting how tax reform enabled significant investments in new equipment and workforce expansion.

• “Tax reform in 2017 was a game-changer for us; it allowed us to invest in our people and technology, driving our competitive edge,” said Cochran. “But the looming expiration of key tax reform provisions creates significant uncertainty for our future planning.”
• “In particular, we face a potential double-whammy as our tax rates are scheduled to increase next year at the same time the pass-through deduction expires—resulting in significant and damaging tax increases for us and other small manufacturers.”

An economic impact: The economic impact of manufacturing on local communities was a central theme of the discussion.

• “Manufacturers like Madsen Steel Wire Products are vital to communities like Bronson,” said Branch County Economic Growth Alliance Director Audrey Tappenden. “Their strength is critical to our local economy and broader industries.”

The big picture: Walberg and Cochran also discussed the broader economic impact of tax reform. The NAM’s recent survey found that 94% of manufacturers believe Congress should act before the end of 2025 to prevent tax increases. The survey also indicated that if tax increases take effect, 73% of manufacturers would limit capital investments and 65% would reduce job creation.

• “Manufacturing is the backbone of our local economy,” said Cochran. “Our ability to invest in new technologies and expand our workforce is dependent on preserving tax reform, which will directly translate to more jobs and better wages for our community.”

The bottom line: “The stakes are high,” said Walberg. “We need to ensure that the tax code continues to support the hardworking men and women in manufacturing. It’s about maintaining a level playing field and ensuring that manufacturers like Madsen Steel Wire Products can thrive—supporting small business growth and the economic health and prosperity of our communities.”

The takeaway: “The NAM launched ‘Manufacturing Wins ’ to preserve tax reform, and Rep. Walberg’s visit to Madsen Steel underscores the critical role of tax policy in driving the success of manufacturers in America,” said NAM Vice President of Domestic Policy Charles Crain. “Congress must act before the end of 2025 to prevent devastating tax increases—bolstering manufacturing across the country and supporting the economic stability and growth of local communities like Bronson, Michigan.”