The Investment of a Generation in America’s Manufacturers
Washington, D.C. – Following House final passage of the tax bill, National Association of Manufacturers President and CEO Jay Timmons issued the following statement:
“Today marks a historic victory for the 13 million people who make things in America. This is a manufacturers’ bill—through and through.
“None of this was inevitable. It’s the result of years of serious, sincere partnership between our nation’s manufacturers and our elected leaders. From the shop floors of small businesses to the headquarters of global companies, from plant managers and line workers to members of Congress and the administration, this achievement reflects what’s possible when policymakers choose to work with manufacturers.
“Manufacturers are especially grateful to President Trump, Vice President Vance, Speaker Johnson, Majority Leader Scalise, Majority Whip Emmer, Conference Chair McClain and Ways and Means Chairman Smith for their steadfast leadership. Their commitment to our industry—and to the men and women who make things in America—was essential to get this done. They listened to manufacturers, stood by us and delivered real results.”
“When leaders partner with manufacturers, good things happen for our country—because manufacturing is nonpartisan and bipartisan. To invest in manufacturing is to invest in America—in communities in every state and of every size. While this bill passed on a party-line vote, manufacturers all across America, in red states and blue states, swing districts and safe districts, look forward to putting people to work, more factories into motion, more innovation into the market, more products onto our shelves and more prosperity into our communities. Taken together, this strengthens the hand of the United States on the world stage. That’s exactly what this bill helps to deliver.
“This Congress and this administration understand that a stronger manufacturing sector means a stronger America. We will continue to work with our nation’s leaders to realize and celebrate the benefits of a comprehensive manufacturing strategy that includes not only further tax reforms but also trade, energy, workforce development and modernized regulations.
“Because one of the greatest investments our leaders can make for the American people is an investment in manufacturing—the industry that powers our shared prosperity.”
Background
Prior to final passage, the NAM activated manufacturers in America—engaging shop floor workers, plant managers, executives and state and local partners nationwide—as part of the “Manufacturing Wins” campaign. With a coordinated public advocacy campaign, which included outreach to congressional offices both in district and in Washington, targeted social media drives, video testimonials and local media op-eds, the NAM made the case for this bill directly to members of Congress and the American people. These collective voices underscored how preserving and expanding key tax provisions translates into growing businesses, creating jobs and powering stronger communities.
On Monday, more than 300 manufacturing leaders from across the country signed onto a letter urging Congress to act immediately to pass historic tax legislation that will enable manufacturers in America to thrive. Leading up to the vote, manufacturers from across the country joined the NAM in a full-court press on Capitol Hill, including a key meeting with Deputy Treasury Secretary Michael Faulkender. They delivered one message: get this across the goal line for American jobs.
In January, the NAM released a landmark EY study on the economic consequences of failing to renew the pro-manufacturing provisions of the Tax Cuts and Jobs Act by the end of 2025. The NAM was joined by Senate Finance Committee Chairman Mike Crapo (R-ID), House Ways and Means Committee Chairman Jason Smith (R-MO) and House Majority Leader Steve Scalise (R-LA) for a Capitol Hill press conference highlighting the study.
Key facts on the economic consequences of failing to preserve tax reform:
- 5.9 million lost jobs
- $540 billion reduction in employee compensation
- $1.1 trillion shortfall in U.S. GDP
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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.