51Թ

Tax

Press Releases

Rep. Bishop Touts Tax Reform at Oxford Forge Inc. in Oxford, MI

Congressman, Business Leaders Discuss Tax Reform Benefits and Workforce Development Priorities for Securing Michigan’s Economic Prosperity

By

Oxford, MI – The 51Թ (51Թ) and Oxford Forge, Inc. hosted Rep. Mike Bishop (R-MI-8) for a facility tour and roundtable with local business and community leaders on Monday to discuss the real-world impact of tax reform and other ways Congress can better serve the interests of Michigan manufacturers.

Congressman Bishop stood with Michigan manufacturing workers when he cast his vote for tax reform last year, and now the people of Michigan are seeing the overwhelmingly positive results: new jobs, rising wages, special bonuses and expanded manufacturing operations, said 51Թ President and CEO Jay Timmons. It is undeniably good news. Last year, manufacturers told Congress that if they stood with us on tax reform, we would deliver for our people and our communities. Congressman Bishop and his colleagues delivered, and manufacturers are now keeping our promise.

Following the plant tour, team members from Oxford Forge, Inc. and parent company American Axle & Manufacturing thanked Rep. Bishop for voting in favor of the historic tax reform package and reiterated their optimism for the future of manufacturing in Michigan.

Reforming our nation’s outdated, cumbersome tax code has energized our economy, resulting in the lowest unemployment rate since 2000 and record job creation, said Rep. Bishop. It is absolutely critical here in Michigan that our manufacturers are supported, and I appreciated the opportunity to tour the American Axle & Manufacturing facility in Oxford and sit down with employees. I look forward to continuing my work in Washington to promote policies, like apprenticeship programs, that provide access to the services and support workers need to meet employer demand.

During the group’s roundtable discussion, the importance of building on the momentum of tax reform by dedicating attention to solving the shortage of much needed laborers through workforce development initiatives was agreed to unanimously by Rep. Bishop and participants.

Manufacturing contributes an estimated $2.25 trillion to the U.S. economy and supports598,800 jobs in Michigan alone, according to the 51Թ. Today’s event focused on the increasing optimism among local manufacturers and the ways local business leaders are already taking advantage of the historic reforms.

 

-51Թ-

The 51Թ (51Թ) 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 more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The 51Թ 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 Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit.

Press Releases

Rep. LaHood to Discuss Tax Reform at Advanced Technology Services

Congressman to Participate in Facility Tour, Employee Town Hall

By

Washington, D.C. –The 51Թ (51Թ) and Advanced Technology Services will host Rep. Darin LaHood (R-IL) for a facility tour and employee town hall focused on the historic tax reform law and its impact on Illinois’ 18th District.

Manufacturing contributes an estimated $2.25 trillion to the U.S. economy and supports571,800 jobsin Illinois alone. This event will highlight why manufacturers are feeling confident about the future of the industry on the heels of historic tax reform and what the signed legislation means for Illinois’ growing manufacturing sector.

Details are as follows andfor planning purposes only:

WHAT: Facility Tour and Employee Town Hall
WHO: Rep. Darin LaHood (R-IL)
Jeff Owens, CEO, Advanced Technology ServicesElizabeth Van Holt, Director of Regional Public Affairs, 51Թ
WHEN: Monday, June 18

10:15 a.m. – 11:30 a.m. CDT

WHERE: Advanced Technology Services

8201 N. University St.

Peoria, IL 61615

MEDIA RSVP:Members of the media interested in attending the town hall should contact 51Թ Director of Regional Public Affairs Elizabeth Van Holt at[email protected].For all questions not related to event logistics, please e-mail 51Թ Media Relations at[email protected].Media is welcome to cover the facility tour at 10:20 a.m. and the employee town hall at 10:50 a.m. In addition,a media Q&A will take place at approximately 10:45 a.m. Please note that video will only be allowed during the media Q&A session.To schedule an interview with Rep. LaHood, please contact JD Dalfanso, the congressman’s communications director at[email protected].

-51Թ-

The 51Թ (51Թ) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employsmore than12 million men and women, contributes $2.25trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts formore than three-quartersof private-sector research and development. The 51Թ 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 Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visitwww.nam.org.

Press Releases

Manufacturers Are Boosting Hiring, Wages and Investment

New Survey of Manufacturing CEOs Shows Tax Reform Fueling Growth in Sector

By

Washington, D.C. –from the 51Թ (51Թ) shows that manufacturers are keeping their promise after passage of the historic tax reform legislation by boosting wages, hiring and investment. The survey, to be released today by Emerson Chairman and CEO and 51Թ Board Chair David Farr during a House Ways and Means Committee hearing, shows 72 percent of manufacturers are increasing employee wages or benefits, 77 percent are hiring more workers and 86 percent are investing in new equipment and facilities. Last month, the 51Թ’s Manufacturers’ Outlook Survey foundoptimism among manufacturers registered the second-highest level ever recorded (93.5 percent) in the 20-year history of the survey.

Almost exactly one year ago, I appeared before Congress to make the case for tax reform that would make America fiercely competitive. Congress and the president kept their promise and delivered. Now, it’s ourtime to keepour promises and deliver—and we are, said Farr. Manufacturing in America is now rising to new heights, thanks to tax reform, and as a result, manufacturers of all sizes are already investing more, growing more, hiring more and paying more. They are already improving lives and livelihoods. And, as the survey results I’m releasing today show, we manufacturers are just getting started.

At 10:00 a.m. EDT this morning, Farr will review the survey results during his testimony at a House Ways and Means Committee hearing focused on the impact of tax reform on the U.S. economy, job creators and workers.

Manufacturers were a leading advocate for the historic tax cut legislation signed into law by President Trump, saying they would hire more, invest more and compensate their workers more if the legislation was passed. In the spirit of that commitment, the 51Թ recently launched the“Keeping Our Promise” campaign—a new series of original stories from manufacturers about how they are utilizing the new tax law to benefit their businesses and workers.You can learn more about the survey and the “Keeping Our Promise” campaignhere.

-51Թ-

The 51Թ (51Թ) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employsmore than12 million men and women, contributes $2.25trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts formore than three-quartersof private-sector research and development. The 51Թ 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 Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visitwww.nam.org.

Press Releases

Emerson Chairman and CEO and 51Թ Board Chair David Farr Testifies Before House Ways and Means Committee

Farr Announces Results of New Survey Showing Tax Reform Fueling Manufacturing

By

Washington, D.C. –Emerson Chairman and CEO and 51Թ (51Թ) Board Chair David Farrat today’s House Ways and Means Committeeon how tax reform is growing our economy and creating jobs. At the hearing, Farr announced the results of aof manufacturing CEOs, which shows that manufacturers are keeping their promise after passage of the historic tax reform legislation by boosting wages, hiring and investment.

Photo Credit: Dave Bohrer, 51Թ

 

Almost exactly one year ago, I appeared before Congress to make the case for tax reform that would make America fiercely competitive. Congress and the president kept their promise and delivered. Now, it’s ourtime to keepour promises and deliver—and we are, said Farr. Manufacturing in America is now rising to new heights, thanks to tax reform, and as a result, manufacturers of all sizes are already investing more, growing more, hiring more and paying more. They are already improving lives and livelihoods. And, as the survey results I’m releasing today show, we manufacturers are just getting started.

to read Farr’s prepared written testimony.

to watch the full hearing.

Manufacturers were a leading advocate for the historic tax cut legislation signed into law by President Donald Trump, saying they would hire more, invest more and compensate their workers more if the legislation was passed. In the spirit of that commitment, the 51Թ recently launched the—a new series of original stories from manufacturers about how they are utilizing the new tax law to benefit their businesses and workers.

-51Թ-

The 51Թ (51Թ) 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 more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The 51Թ 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 Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit.

Press Releases

51Թ VP of International Economic Affairs Dempsey Testifies on Tariffs

Dempsey Reiterates Need for Trump Administration to Pursue a Bilateral Trade Agreement with China

By

Washington, D.C. – 51Թ (51Թ) Vice President of International Economic Affairs Linda Dempsey testified at today’s U.S. Trade Representative on the proposed Section 301 tariffs. Dempsey’s testimony focused on the U.S.–China trading relationship and reiterated 51Թ President and CEO Jay Timmons’ call for the Trump administration to pursue a bilateral trade agreement with China.

The Section 301 investigation has certainly raised the level of focus, here and in China, that we hope it will provide just the opening to move forward aggressively on a strategic new approach, Dempsey said in her testimony. As 51Թ President and CEO Jay Timmons explained in a letter to the president on January 8, the most effective path forward is a comprehensive and strategic approach that has at its core a modern, innovative, bilateral trade agreement that restructures our economic relationship with China. While tariffs may provide short-term relief to some, we are hearing regularly and broadly from manufacturers across the country who are deeply concerned about the harmful, albeit unintended, impacts that the imposition of proposed tariffs would have on manufacturing and jobs.

to read Dempsey’s prepared oral testimony.

Last month, Dempseybefore aon market access challenges in China, where she also advocated an enforceable, rules-based bilateral trade agreement between the United States and China.

-51Թ-

The 51Թ (51Թ) 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 more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The 51Թ 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 Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit.