Our country’s burdensome tax code is outdated and impacts manufacturers’ ability to grow and hire new employees. The United States has the highest corporate tax rate in the world. As a result, we’ve seen slow economic growth in recent years and an employment rate that doesn’t match up to our nation’s growth potential.
President-elect Trump and the newly sworn in 115th Congress must work to implement pro-growth tax reform that will support millions of manufacturers and their employees. The National Association of Manufacturers (NAM) and Friends of Manufacturing stand behind these efforts and are offering solutions to generate economic growth.
A pro-growth tax reform plan could create more than 6.5 million jobs and increase the GDP by more than $12 trillion. In order to help make our nation the best place to work, invest and manufacture, Congress and the new administration need to construct a new tax code that will include modern and competitive international tax rules and strong R&D incentives while generating jobs and jumpstarting economic growth.