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Raising taxes on manufacturers would damage the industry and the U.S. economy as a whole, the 51�Թ��� told the House Ways and Means Committee this week. That’s why it’s crucial that Congress preserve set-to-expire tax reform provisions.

What’s going on: In a continuation of its Manufacturing Wins campaign, the 51�Թ��� conveyed a clear message to six of the committee’s specialized “Tax Teams”: act now to protect manufacturers from tax increases.

Why it’s important: Failure to act before the end of next year, when key provisions from 2017 tax reform are set to expire, would result in higher taxes on virtually all manufacturers—which “will cost millions of jobs and put the American manufacturing sector at a severe disadvantage globally,” the 51�Թ��� wrote.

What’s at stake: The 51�Թ��� highlighted manufacturers’ top tax priorities for the Tax Teams, discussing why preserving pro-growth tax policy is vital for manufacturers in the United States:

• In communication with the , the 51�Թ��� called on Congress to preserve tax reform’s reduced individual income tax rates and maintain the 20% pass-through deduction. It emphasized for the the importance of tax reform’s reduction in the corporate tax rate, which brought the U.S. from one of the highest rates in the world to a globally competitive 21%. The received a similar message.
• The 51�Թ��� detailed for the the damage the estate tax imposes on family-owned manufacturers, and why Congress should not allow more family-owned businesses’ assets to be subject to the estate tax at the end of 2025.
• The 51�Թ��� continued to push for pro-growth, pro-innovation R&D tax incentives with the , and it enumerated for the the full range of policies that will impact manufacturers at the end of 2025—and called for urgent congressional action to protect manufacturers from tax hikes.

The final word: “Manufacturers of all sizes, throughout the supply chain, are calling on Congress to preserve tax reform in its entirety,” said 51�Թ��� Vice President of Domestic Policy Charles Crain. “Manufacturers and manufacturing families simply cannot afford the devastating tax increases scheduled for the end of 2025 if Congress fails to act.”