President Trump invited Dayton manufacturer Steve Staub to be his guest at this year’s State of the Union address. Steve is headed to Washington for the big event because manufacturers like him all across the country got a huge boost during President Trump’s first year in office. Now Steve and other manufacturers are doing their part for the American economy and jobs. As we head into 2018, stand with Steve and tell President Trump and Congress to keep delivering for American manufacturing.
By Steve Staub, Co-owner, Staub Manufacturing Solutions
Last month, the National Association of Manufacturers (NAM) released a survey showing that nearly 95 percent of manufacturing companies are optimistic about the futures of their businesses and the economy. Count me among them.
The Dayton-based company that my sister Sandy Keplinger and I own — a contract metal fabrication company called Staub Manufacturing Solutions — just had an incredible year. Sandy and I expect an even better 2018. And, as is often the case in the history of American enterprise, our success is becoming everyone’s success. It is benefiting our employees and their families. It is helping our suppliers and customers. It is building our community and it is growing our economy: Dayton’s economy, Ohio’s economy and America’s economy. Increasingly, this kind of optimism is becoming the default for businesses across our country. That is no accident. As the NAM survey I mentioned showed, an important reason why manufacturers are so optimistic about the future is this: they see new policies from Washington that are finally freeing our country to succeed.
Manufacturers in Wisconsin and across the country say the promise of tax reform will spur growth and create jobs. In fact, in our latest Manufacturers’ Outlook Survey, over 64 percent of manufacturers told us that they would use the savings from comprehensive tax reform to expand their businesses and more than 57 percent say they would hire more workers.
Michael Reader, president and owner of Precision Plus, Inc., plans to reinvest in his company and his 75 employees. Precision Plus is focused on giving back by forming partnerships with local technical colleges, providing career opportunities to the next generation of manufacturers. Smart, pro-growth tax reform will allow Precision Plus to keep investing in educational programs while growing his business:
Here’s What Ohio Manufacturers Are Saying About How Tax Reform Will Help Grow the Economy by Andrew Clark (First Seen on Shopfloor.org)
While our elected officials in Washington debate comprehensive tax reform, manufacturers across the country continue to push for bold tax reform that would allow them to hire and reinvest in their businesses.
In fact, in NAM’s most recent Manufacturers’ Outlook Survey, we saw record-high optimism from the manufacturing community. An astounding 90.87 percent of manufacturers are positive in their company’s outlook. Last year, it was 59.77 percent. This is undoubtedly due to movement on tax reform. Over 64 percent of manufacturers said pro-growth tax reform would help them expand their businesses and increase capital spending.
New York-Based Manufacturer Explains Why Tax Reform Will Help His Business Hire And Expand By Andrew Clark (First Seen on Shopfloor.org)
Comprehensive tax reform will not only boost the economy and jobs, but will also create more opportunities for workers and manufacturers in New York to grow and expand their businesses.
According to the National Association of Manufacturers’ Outlook Survey, over 64 percent of manufacturers said pro-growth tax reform would help them expand their businesses and increase capital spending. New York manufacturers are on board with that plan, and thank Rep. John Katko (R-NY-24) for standing up for manufacturers in the state by deciding to vote in favor of the tax bill.
In a couple of weeks, manufacturers from across the country will travel to the nation’s capital to connect with policymakers and advocate for manufacturing priorities that will expand our nation’s workforce and boost the economy.
Manufacturers play an instrumental role across America’s industries, and they know there is much to be done to make sure the country remains the best place to work and manufacture in. This includes implementing pro-growth tax reform and regulatory reform, as well as fixing our country’s crumbling infrastructure.
From roads, waterways and airports, manufacturers across the country have had to deal with the consequences of our nation’s crumbling infrastructure for the past eight years. However, it’s not just physical infrastructure that we must invest in, but our telecommunications infrastructure as well. Now, Americans are looking towards policymakers in Washington to uphold President Trump’s promise of cutting wasteful regulations that prevent manufacturers from innovating and hiring new workers, especially when it comes to a tool that businesses depend on every day: the internet.
This week, the Federal Communications Commission (FCC) voted to continue to pursue their “Restoring Internet Freedom” order, which include efforts to scale back the regulation of the internet. Manufacturers know that businesses rely on strong telecommunications technology to remain competitive in the global marketplace, and we support eliminating internet regulations that prevent manufacturers from expanding their businesses and boosting the economy.
Manufacturers are no stranger to federal regulations. For the past eight years, these costly and burdensome rules have forced manufacturers in the U.S. to spend nearly $35,000 per employee each year just in compliance costs. This makes it harder for American businesses to expand their workforce and maintain their competitiveness in the global economy.
President Trump knows that creating new jobs and spurring business growth are critical to America’s success, and he has already made cutting duplicative and unnecessary regulations a top priority. However, with manufacturers dealing with 297,696 restrictions on their operations from federal regulations, Congress must act immediately to implement smart, pro-growth policies that support regulatory reform.
During President Donald Trump’s first 100 days in office, he has followed through on his promises to roll back some of the most burdensome, overly complex and costly regulations that are preventing manufacturers from growing and hiring new employees.
April 15 marks President Trump’s first Tax Day in office, but it should also serve as a reminder to Congress that manufacturers across the country are struggling to compete under the highest corporate tax rate in the developed world.
It’s been 30 years since our tax code was last updated. Since that time business taxes have grown too complex and costly. Other nations are attracting and growing their tax base, while manufacturers and businesses in the U.S. fall behind.