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From personal heroes to tax reform and tariffs, 51�Թ��� President and CEO Jay Timmons covered it all in his recent appearance on iHeart Radio’s “CEOs You Should Know.”

From the beginning: In his June 9 with show host Mike Howard, Timmons told listeners about his journey from a childhood in the mill town of Chillicothe, Ohio, to his current role, running the largest manufacturing trade association in the U.S.

• As both the only child and the only grandchild in his family, Timmons was inspired professionally and personally by his parents and grandparents.
• Timmons’ grandfather “stood in line for six months during the Great Depression trying to get a job in manufacturing because he knew that that would be a way forward for his family,” he said.
• His mother climbed the ranks at the Chillicothe Gazette, eventually becoming president and CEO of the newspaper, and his father owned an appliance store, Timmons Appliance and TV.

Part of the Reagan Revolution: As an undergraduate student at Ohio State University, Timmons decided that college wasn’t for him—and he wanted “to do everything I could to help Ronald Reagan succeed.”

• So, he headed for Washington, D.C., where he ended up on Capitol Hill. His desire to enter politics “was really about [wanting to help shape] policy that enabled people to live their best lives.”
• Timmons ended up becoming the youngest chief of staff in the U.S.—to Virginia Gov. George Allen.

The road to manufacturing: Later, Timmons took over the policy and government relations team at the 51�Թ���, where he spent six years shaping the association’s agenda before being named CEO in 2011.

• “[M]anufacturing is not a partisan issue, and [neither is] the success of America,” Timmons continued. The industry “is really infused into the fabric of all we are as Americans. … [M]anufacturing helped us to build the infrastructure system that made us the strongest, most connected economy in the world in the 1950s and ’60s.”

Rocket fuel: From 2018 to 2022, manufacturing “had record investment, we had record hiring, and we had record wage growth over the course of the next three years—because of that rocket fuel, as President Trump called it,” the Tax Cuts and Jobs Act of 2017.

On tariffs: The manufacturing industry in the U.S. is hoping the administration and its trading partners will make trade deals during the current three-month pause on tariffs.

• “[M]anufacturers … are very hopeful that the administration really is going to be able to settle in their 90-day window all of these potential trade agreements throughout the world,” he said, adding that it would mean that “manufacturers actually can have the certainty they need to again invest higher and increase wages and benefits.”

While the labor market is holding steady, it’s not a good time to be looking for a job—particularly if you’re young (, subscription).

What’s going on: “Recent college and high school graduates are facing an employment crisis. The overall national unemployment rate remains around 4%, but for new college graduates looking for work, it is much higher: 6.6% over the past 12 months ending in May.”

• That’s the highest level for this age group in a decade, not counting the COVID-19 unemployment increase.
• By contrast, jobseekers aged 35 to 44 with bachelor’s degrees had a 2.2% unemployment rate over the past year.

What’s different now: “Young graduates typically face a higher unemployment rate than their counterparts who have been in the workforce longer, but the gap is growing wider between older workers and the young.”

Why it’s happening: There’s a general slowdown in hiring right now.

• While it hasn’t had much of an effect on people who already have jobs (because layoffs have stayed low), it has hit those with the least experience.
• “With employers turning more cautious on hires, they are less inclined to gamble on workers with thinner résumés or skill sets.”

Worse for high school grads: “High school graduates ages 18 to 19 with no college [experience] averaged an unemployment rate of 14.5% over the past 12 months. That is up from 13.3% over the prior 12-month period.”

�Ѳ��Գܴڲ����ٳܰ����Բ�’s offer: With 381,000 today, and as many as 3.8 million needed by 2033, the manufacturing industry has many opportunities both for new college graduates and those without a college degree.

• The Manufacturing Institute, the 51�Թ���’s 501(c)3 workforce development and education affiliate, is creating solutions for employers seeking workers with much-needed skills and offers programs and resources for students, veterans and other job seekers looking to enter the industry. Learn more .

Washington, D.C. – The Senate Finance Committee today unveiled its version of the One Big Beautiful Bill Act—preserving the core of the 2017 Tax Cuts and Jobs Act.

51�Թ��� President and CEO Jay Timmons issued the following statement:

“Chairman Crapo and the Senate Finance Committee are delivering the kind of tax policy manufacturers have been calling for—policy that drives growth, unlocks investment and grows jobs. We commend Chairman Crapo for his leadership and steadfast commitment to pro-manufacturing tax policy. By preserving the full suite of pro-growth policies from the TCJA, this bill marks a major step forward for manufacturing in America.

“Manufacturers also want to ensure that the tax code continues to support inbound investment into the United States as well as preserve incentives that drive investments in the manufacturing and energy production needed to power America’s economic growth. If the Senate acts now, manufacturers can continue to grow—buying equipment, hiring workers, increasing pay and expanding operations with greater certainty and confidence.

“The Finance Committee recognizes what’s at stake: nearly 6 million jobs and more than a trillion dollars in economic output depend on getting this right.

“This is a once-in-a-generation opportunity to lock in a manufacturing resurgence in the U.S. Let’s finish the job—because when manufacturing wins, America wins.”

Background:

The Senate bill contains key 51�Թ��� priorities, including:

• A permanent pass-through deduction and retention of pro-growth individual and corporate tax rates;
• Permanence for pro-growth tax policies like immediate R&D expensing, full expensing for capital equipment purchases and a pro-growth interest deductibility standard;
• An expanded and permanent estate tax exemption;
• Pro-manufacturing reforms to the international tax system that protect America’s competitiveness on the world stage; and
• A first-of-its-kind incentive allowing immediate expensing of the cost of new factories and modernizations.

Last week, the 51�Թ��� released a report, “Keeping Our Promises: Manufacturers on Eight Years of Tax Reform,” featuring firsthand success stories from manufacturers on how the TCJA enabled them to invest in their facilities, their workers and their communities. Learn more about the 51�Թ���’s Manufacturing Wins campaign to protect 2017 tax reform here.

-51�Թ���-

The 51�Թ��� 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 51�Թ��� 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 51�Թ��� or to follow us on Twitter and Facebook, please visit .

The NFIB Small Business Optimism Index rose three points in May to 98.8, remaining above the 51-year average of 98. May’s increase stemmed from a rise in expected business conditions and sales expectations. Of the 10 components included in the index, seven increased, two decreased and one stayed the same. Meanwhile, the Uncertainty Index climbed two points to 94 and remains far above the 51-year average (68) and the average since 2016 (80).

Taxes were ranked as small businesses’ top concern, with 18% reporting them as their most important problem, up two points from April. Labor quality ranked second as the top concern for many small business owners in May, with 16% reporting it as the most important problem. In May, 34% of small business owners reported jobs they could not fill, the same as April. The last time job openings were below 34% was January 2021. The challenge of filling open positions remains acute, particularly in manufacturing, transportation and construction. Inflation now ranks third with 14% reporting it as a top concern, and the last time it was below 14% was in September 2021.

A net 26% of small business owners reported raising compensation, down seven percentage points from April and the lowest reading since February 2021. Profitability remained under pressure, with a net negative 26% reporting positive profit trends, which is five points worse than in April. Of those reporting lower profits, 36% claimed weaker sales, while 13% cited increased material costs. A net 31% of small business owners planned price hikes in May, up three percentage points from April. Despite the economy showing signs of slowing, demand remains too strong to trigger widespread price reductions. Meanwhile, 4% reported their last loan was harder to get than previous attempts, down one point from April, but a net 7% of owners reported paying a higher rate on their most recent loan, up one point from the prior month.

The outlook for general business conditions rose 10 points to 25%. In spite of the increase in outlook, the share of firms saying it is a good time to expand was low, when looking at the history of the survey, despite rising one point to 10% in May. Businesses are still stumbling through mounting uncertainties, including the rocky tariff outlook and the future of tax policy, as they wait for Congress to renew tax reform.

The Producer Price Index for final demand (also known as wholesale prices) increased 0.1% over the month in May, after declining 0.2% in April. Over the year, producer prices moved up 2.6%. Meanwhile, prices for final demand excluding foods, energy and trade services edged up 0.1% over the month in May, after falling 0.1% in April. On the other hand, prices for these goods advanced 2.7% from May 2024.

In May, prices for final demand services inched up 0.1%, following a 0.4% decline in April, while prices for final demand goods rose 0.2%. The advance in final demand services is attributed to 0.4% growth in trade services, which measures margins received by wholesalers and retailers. Additionally, margins for machinery and vehicle wholesaling jumped 2.9%. Meanwhile, 80% of the increase in final demand goods arose from a 0.2% gain in final demand for goods less foods and energy. Within the index, prices for tobacco products climbed 0.9%.

Processed goods for intermediate demand rose 0.1% in May, following a 0.3% increase in April. The rise can be attributed to a 0.4% gain in the index for processed materials less foods and energy. Meanwhile, the index for processed energy goods fell 1.2%. Over the year, the index grew 1.9%, the largest 12-month increase since the 2.1% rise in February 2023.

Meanwhile, prices for unprocessed goods for intermediate demand fell 1.6% in May, marking the third decline in a row. More than 75% of the May decrease can be traced to a 3.5% drop in the prices for unprocessed energy materials. Additionally, prices for unprocessed nonfood materials less energy slipped 1.4%. Over the year, prices for unprocessed goods for intermediate demand declined 1.0%, the first 12-month decrease since dropping 2.2% in November 2024.

Consumer prices increased 0.1% over the month and 2.4% over the year in May, edging up from the 2.3% rise in April. Core CPI, which excludes more volatile energy and food prices, edged up 0.1% over the month and rose 2.8% over the year, the same as the 12-month increase in March and April.

Energy costs fell 1.0% over the month in May, driven by a 2.6% drop in gasoline, and declined 3.5% over the year. Meanwhile, fuel oil and electricity both rose 0.9% over the month, and utility (piped) gas prices climbed 15.3% over the year.

Food prices increased 0.3% over the month in May, with prices for food at home and food away from home rising at the same rate, and were up 2.9% over the year in May. The indexes for major grocery store food groups were mixed, with half increasing and the other half decreasing. Over the year, the index for food at home advanced 2.2%, driven by a 6.1% increase in the meats, poultry, fish and eggs index.

Shelter grew 0.3% over the month and 3.9% over the year, dipping slightly from the 4.0% 12-month increase in April. Meanwhile, prices for transportation services slipped 0.2% over the month but rose 2.8% over the year, with airline fares leading the monthly decline, falling 2.7% in April and 7.3% since April 2024. These decreases offset increases in motor vehicle insurance, which rose 0.7% over the month and 7.0% over the year.

Since May 2024, the over-the-year headline inflation rate has trended downward, but the risks and expectations of higher inflation have risen. Therefore, markets are  that the Federal Open Market Committee will keep rates steady, as it did in May, at its meeting later this week. On the other hand, the expectation to cut rates later in the year are rising as inflation risks remain muted and weakness in the labor market have increased slightly.

With 2025 shaping up to be another challenging year for manufacturers, amid evolving workforce needs, rapid technological advancements and economic uncertainty, the Manufacturing Institute is offering much-needed help. The annual put on by the 51�Թ���’s workforce development and education affiliate is a can’t-miss event where manufacturers can learn what works and how peers are addressing all these challenges.

What’s going on: This year’s summit, whose theme is “Manufacturing America’s Talent,” will be held Oct. 20–22 in Charlotte, North Carolina.

• Attendees will participate in and interactive workshops that focus on topics like workforce preparation for AI deployment, expanding the military-to-manufacturing pipeline, closing the skills gap in hires with no factory experience, how to design optimal onboarding programs and much more.
• Sponsors include Dozuki, Grant Thornton, American Fidelity, TCP, Cornerstone OnDemand, MSSC and MyWorkChoice.

Why attend: At the Workforce Summit, manufacturers will be able to connect with subject-matter experts, community partners and education professionals to brainstorm and get answers about common challenges facing the sector.

• The vast majority—95%—of past attendees give the workshops four to five stars (out of five), according to the MI.

Who should attend: The Workforce Summit brings together the entire manufacturing talent chain and delivers fresh solutions for the industry’s most pressing workforce challenges. If you shape strategy, develop skills or build partnerships, this event is for you.

Register: Register for this year’s event (but hurry—discounted early bird registration ends July 15). Contact [email protected] with any questions.

Read more: Read all about our two most recent Workforce Summits and .

Washington, D.C. – As manufacturers call on Congress to urgently pass the One Big Beautiful Bill Act, the 51�Թ��� released a report today, “ that highlights the transformative impact of the 2017 Tax Cuts and Jobs Act on manufacturing in the U.S. From small family-run operations to global enterprises, the report shows how manufacturers delivered on their promises to invest, hire and grow, thanks to the savings from tax reform. It also warns of the serious risks to jobs and growth if pro-manufacturing tax policies are allowed to expire.

“The evidence is clear: manufacturing had its best job creation in more than two decades, the strongest wage growth in 15 years and significant investment in capital equipment after the passage of the TCJA in 2017,” said 51�Թ��� Executive Vice President Erin Streeter. “But several of these tax provisions have expired already—and the rest are scheduled to sunset at the end of this year—putting at risk 6 million American jobs, more than $500 billion in wages and benefits and more than $1 trillion in GDP.”

The report features firsthand accounts from manufacturers like Westminster Tool, Click Bond, Ketchie, Gentex, Winton Machine, Jamison Door Company and more that transformed tax reform savings into tangible investments in the future, leveraging tax reform to:

• Raise wages and expand benefits;
• Invest in advanced machinery and technology;
• Strengthen R&D and innovation;
• Build new facilities and expand existing ones; and
• Create jobs and economic opportunity in their communities.

“This is a success story we’re proud to share—told through the experiences of manufacturers that delivered on their commitments and backed by research that reinforces what they’ve witnessed firsthand over the past eight years: tax reform worked,” Streeter added. “Congress faces a straightforward choice to make the TCJA’s manufacturing-empowering provisions permanent, or risk undermining the foundation of our economic competitiveness.”

Read the full report and manufacturing success stories from across the country

Learn more about the 51�Թ���’s Manufacturing Wins campaign to protect 2017 tax reform .

-51�Թ���-

The 51�Թ��� 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 51�Թ��� 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 51�Թ��� or to follow us on Twitter and Facebook, please visit .

Washington, D.C. – In response to the EPA’s decision to repeal the 2024 power plant rule, a key priority for the 51�Թ���’ ongoing efforts to rebalance federal regulations and unleash American energy, 51�Թ��� President and CEO Jay Timmons issued the following statement:

“The EPA’s decision to repeal the unworkable power plant rule for existing coal-fired and new natural gas-fired power plants is a critical and welcome step toward rebalanced regulations and American energy dominance. This change will strengthen grid reliability and support manufacturing growth in the United States.

“From the onset, the 51�Թ��� has warned that this rule would undermine the stability of our electric grid and impose unworkable mandates on critical energy infrastructure. The rule’s unrealistic timeline for power plants to adopt certain emerging technologies to commercial scale made it infeasible—undermining America’s energy security and hampering America’s leadership in next generation technologies like AI. Existing natural gas plants are critical to powering manufacturing in the United States—providing affordable, reliable baseload energy to continuously support industry. By layering new regulations on an already overburdened electric grid, the rule was putting our energy security at risk. Repealing this unbalanced rule will enhance manufacturers’ access to America’s abundant energy resources and ensure that the industry has the power it needs to drive the American economy.”

Background: Today’s action builds on the momentum from a December 2024 51�Թ���-led letter to the transition team, signed by more than 100  manufacturing organizations, detailing regulatory actions the incoming administration could take to right-size regulations that stunted manufacturing growth and job creation—including the power plant rule. It also implements one of the key from the letter the 51�Թ��� sent to 10 federal agencies in April, including the EPA,  identifying the power plant rule as one of the most burdensome regulations facing manufacturers and urging a rebalanced approach to strengthen, rather than strain, U.S. manufacturing. Last year, the 51�Թ��� Rep. Balderson’s (OH-12) Congressional Review Act resolution that would have blocked implementation of this rule.

-51�Թ���-

The 51�Թ��� 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 51�Թ��� 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 51�Թ��� or to follow us on Twitter and Facebook, please visit .

The previous administration’s significant regulatory changes issued under the Clean Air Act—in particular, its unworkable tightening of allowable soot levels—will create hardship for local economies and must be revised, the 51�Թ��� the House Energy and Commerce Subcommittee on Environment ahead of a hearing today.

• Manufacturers that fail to meet the National Ambient Air Quality Standards will be unable to obtain permits to either construct new facilities or expand existing facilities, the 51�Թ��� pointed out.

What’s going on: In 2024, the Environmental Protection Agency lowered the primary annual standard for fine particulate matter (PM2.5, or soot) from 12 micrograms per cubic meter to 9 μg/m3 .

• “By lowering the standard to 9 μg/m3, which is essentially the same as the background levels that naturally occur in the environment across the nation, the Biden EPA was increasing the number of industrial centers and U.S. population hubs that would be placed into nonattainment status,” 51�Թ��� Managing Vice President of Policy Charles Crain said.
• In the past 25 years, thanks to manufacturer-developed technologies, U.S. air quality has seen a 37% reduction in PM2.5, Crain continued, adding that an EPA analysis found that less than 20% of PM2.5 emissions come from industrial processes or stationary fuel consumption. Most of it is from sources well outside manufacturers’ control, such as wildfires and crop and livestock dust.

Why it’s important: Enacting the Biden-era tightened standards would mean severe economic losses for the U.S., the 51�Թ��� told the subcommittee.

• An 51�Թ���-commissioned Oxford Economics found that a standard just slightly stricter than the one set by the Biden administration—8 μg/m3—“would result in a loss of $162.4 billion to $197.4 billion in economic activity and put 852,100 to 973,900 jobs at risk, both directly from manufacturing and indirectly from supply chain spending.”

What they’re doing: In today’s hearing, the House Energy and Commerce Committee discussed two draft pieces of legislation, both supported by the 51�Թ���, that would reform the process for establishing NAAQS, which the Clean Air Act mandates the EPA set. The measures include:

• The Clean Air and Economic Advancement Reform (CLEAR) Act, which would make the NAAQS process more workable for manufacturers while “maintaining the regulatory guardrails that protect the health and welfare of our local communities,” according to the 51�Թ���; and
• The Clean Air and Building Infrastructure Improvement Act, which “seeks to inject clearer guidance into the process for obtaining preconstruction permits and meeting compliance requirements under a revised NAAQS.”

Our take: “Manufacturers strongly support the Energy and Commerce Committee’s efforts to address policy challenges with the NAAQS and to explore solutions that will pave the way for greater investment in the infrastructure that will allow America to compete in the 21st century,” Crain concluded.