Emerson Chairman and CEO and 51³Ô¹ÏÍø Board Chair David Farr Testifies Before House Ways and Means Committee
Farr Announces Results of New Survey Showing Tax Reform Fueling Manufacturing
Washington, D.C. –ÌýEmerson Chairman and CEO and 51³Ô¹ÏÍø (51³Ô¹ÏÍø) Board Chair David FarrÌýÌýat today’s House Ways and Means CommitteeÌýÌýon how tax reform is growing our economy and creating jobs. At the hearing, Farr announced the results of aÌýof 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, 51³Ô¹ÏÍø
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 ourÌýtime to keepÌýour 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.
°ä±ô¾±³¦°ìÌýÌýto read Farr’s prepared written testimony.
°ä±ô¾±³¦°ìÌýÌýto 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 51³Ô¹ÏÍø recently launched theÌý—a new series of original stories from manufacturers about how they are utilizing the new tax law to benefit their businesses and workers.
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The 51³Ô¹ÏÍø (51³Ô¹ÏÍø) 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 51³Ô¹ÏÍø 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 visitÌý.
51³Ô¹ÏÍø VP of International Economic Affairs Dempsey Testifies on Tariffs
Dempsey Reiterates Need for Trump Administration to Pursue a Bilateral Trade Agreement with China
Washington, D.C. – 51³Ô¹ÏÍø (51³Ô¹ÏÍø) 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 51³Ô¹ÏÍø 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 51³Ô¹ÏÍø 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.
°ä±ô¾±³¦°ìÌýÌýto read Dempsey’s prepared oral testimony.
Last month, DempseyÌýÌýbefore aÌýÌýon market access challenges in China, where she also advocated an enforceable, rules-based bilateral trade agreement between the United States and China.
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The 51³Ô¹ÏÍø (51³Ô¹ÏÍø) 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 51³Ô¹ÏÍø 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 visitÌý.