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Washington, D.C. – 51�Թ��� President and CEO Jay Timmons released the following statement on the passing of former U.S. Sen. John Warner:

“John Warner was an American legend. We mourn the loss of this great statesman, but we should also learn from the example of his life. He was the ultimate public servant, one who fearlessly put country over politics and who knew that reaching compromise and consensus in service of the nation was a virtue, not a vice. And for that he was admired by his staff, revered by his colleagues, appreciated by his constituents and respected by leaders all around the world.

“Sen. Warner was a friend of manufacturers. And as a veteran of World War II and the Korean War, as well as a former Secretary of the Navy and Chairman of the Senate Armed Services Committee, he understood well our industry’s role as the arsenal of democracy. Our industry is grateful for his lifetime of leadership.

“I was fortunate to see Sen. Warner in action firsthand. When I was on staff in the Senate, his office was down the hall. I vividly remember walking into a shattered Pentagon with him after 9/11. And I also recall all the small kindnesses he offered through the years. He never failed to ask how you were doing. He cared, and he stayed in touch, and that is why he forged so many unbreakable bonds of friendship through the years—with people from all walks of life.

“We need more leaders like Sen. Warner in American life. We need more statesmen who can bring us together. May his memory be an inspiration.

“We are keeping Jeanne, his children, his entire family and many loved ones in our prayers.”

-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 more than 12.3 million men and women, contributes $2.35 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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. – As Congress and the Biden administration continue to make progress on negotiations to invest in our nation’s failing infrastructure, the 51�Թ��� released a new study detailing the short- and long-term damage to the American economy if the corporate tax rate were raised to 25%, the top marginal tax rate were increased, the 20% pass-through deduction were repealed, certain expensing provisions were eliminated and more.

In April, the 51�Թ��� released a study on the of rolling back key provisions of the Tax Cuts and Jobs Act, including raising the corporate tax rate to 28%.

“Manufacturers are encouraged by the bipartisan negotiations continuing this week. Infrastructure investment and retaining competitive tax policies are a win–win for America. But there are some still advocating for increasing taxes on manufacturers—just not quite as much as the 28% proposed originally by President Biden. They might mean well, but that doesn’t change the fact that America will still lose jobs and investment in our communities at a time when manufacturers are working to build the post-pandemic world,” said 51�Թ��� President and CEO Jay Timmons.

The negative consequences would include the :

• One million jobs would be lost in the first two years.
• The average reduction in employment would be equivalent to a loss of 500,000 jobs per year over the next decade.
• By 2023, GDP would be down by $107 billion, by $169 billion in 2026 and by $89 billion in 2031.
• Ordinary capital, or investments in equipment and structures, would be $70 billion less in 2023 and $70 billion and $51 billion less in 2026 and 2031, respectively.
• And more.

Click for a summary of the study’s details and findings. Read the full study, “Dynamic Estimates of the Macroeconomic Effects of Tax Rate Increases and Other Tax Policy Changes,” conducted by Rice University economists John W. Diamond and George R. Zodrow,” .

51�Թ��� President and CEO Jay Timmons will host a media conference call today at 1:15 p.m. EDT following this year’s 51�Թ��� State of Manufacturing Address.

You can watch the 2021 51�Թ��� State of Manufacturing Address beginning Friday at noon EDT . RSVP to [email protected] for conference call details.

Background on manufacturing growth following the enactment of tax reform in 2017:

• In 2018, manufacturers added 263,000 new jobs. That was the best year for job creation in manufacturing in 21 years.
• In 2018, manufacturing wages increased 3% and continued going up—by 2.8% in 2019 and by 3% in 2020. Those were the fastest rates of annual growth since 2003.
• �Ѳ��Գܴڲ����ٳܰ����Բ���capital spending grew by 4.5% and 5.7% in 2018 and 2019, respectively.
• Overall, manufacturing production grew 2.7% in 2018, with December 2018 being the best month for manufacturing output since May 2008.

Manufacturers strongly support President Biden’s call for bold infrastructure investment, which can be achieved through a combination of revenue sources like those identified in the 51�Թ���’s “.”

-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 more than 12.3 million men and women, contributes $2.35 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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. – Following the announcement by the United States Trade Ambassador that the Biden administration will support waiving intellectual property protections for COVID-19 vaccines, 51�Թ��� President and CEO Jay Timmons released the following statement:

“We are all horrified by the images that we are seeing in India and in other places around the world hard-hit by COVID-19. The proposed WTO/TRIPS waiver would not solve this crisis and would exacerbate the core manufacturing and distribution challenges, as well as introduce serious new safety concerns.

“Rather than rushing to suspend critical protections and standards, investing in even greater production capacity would result in expanded vaccine access. Pharmaceutical manufacturers continue to work around the clock to help the world get armed against COVID-19. We should do everything possible to build on that heroic work, not undermine the protections that make this innovation possible in the first place.”

-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 12.3 million men and women, contributes $2.33 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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. – Following President Joe Biden’s first presidential address to Congress, 51�Թ��� President and CEO Jay Timmons released this statement:

“Thanks to the leadership of vaccine manufacturers and the Biden administration’s successful vaccine distribution efforts, Americans are getting back to the activities and the people they love. Though the capacity limits in the House chamber tonight remind us that we still have a long way to go, our future is looking brighter.

“We look forward to working with President Biden to achieve historic infrastructure investment, including the many priorities offered in our ‘Building to Win’ plan, which, in addition to identifying areas of investment, also provides multiple funding solutions.

“Manufacturers have also provided roadmaps on critical issues ranging from immigration to climate change. We’re ready to work with President Biden and members of any party to deliver bipartisan progress on these issues and more, all while ensuring we’re strengthening the manufacturing workforce, not jeopardizing manufacturing growth in the United States.

“To that point, raising taxes on manufacturers—including many small businesses that pay at the individual rate—would stop our recovery in its tracks; we would lose 1 million jobs in just the first two years alone. Small manufacturers would be especially hard hit at this critical juncture, restricting their ability to raise wages and benefits, hire more workers and invest in their communities. Similarly, changes to the longstanding tax rules on the transfer of family businesses to the next generation of manufacturers would cost American jobs.

“Returning to archaic tax policies and one of the highest business tax rates in the developed world is not the way to build our future, nor are federal policies to force workers to join a union. Anti-worker policies like the PRO Act would inject uncertainty by driving a wedge in established employee–employer relationships and curtail future manufacturing investments that support our communities and families.

“As we continue to get armed against COVID-19, manufacturers are focused on building the next, post-pandemic world—one that affords even greater opportunity for all Americans.”

Background:

The 51�Թ��� continues to put forward commonsense proposals to educate and inform policymakers on ways to strengthen manufacturing in America while achieving our shared objectives.

-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 12.3 million men and women, contributes $2.35 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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. – Following President Joe Biden’s announcement on the 2030 greenhouse gas pollution reduction target, 51�Թ��� President and CEO Jay Timmons released the following statement:

“Climate change is an issue our generation must tackle. Like past generational challenges—world wars, the space race, the COVID-19 response and vaccine development—manufacturers will lead the way and ensure our country emerges stronger. After all, it is manufacturers who will make the needed products and technologies—clean energy, carbon capture, batteries, microgrids, efficiency, advanced vehicles and more.

“The President’s goal is bold, to be sure. But when have Americans ever been timid in the face of difficulty? We look forward to learning more specific details of the administration’s plan, and manufacturers are ready to work with policymakers on both sides of the aisle to achieve success for our nation and world. As we explain in ‘The Promise Ahead,’ manufacturers’ plan for taking action on climate, we believe that a unified federal policy combined with an equitable and enforceable international agreement is key.

“Meeting President Biden’s ambitious pledge will require manufacturing might and innovation, which means we will also need policies that keep manufacturing strong and competitive—historic infrastructure investment; a tax code that continues to promote investment, job creation and research and development; a diverse and reliable energy supply; incentives for workforce development; and more opportunities to export our innovative products and technologies to other countries. And as manufacturers rise to meet this challenge, the rest of the economy will prosper because for every $1.00 spent in manufacturing, another $2.79 is added to the economy—the highest multiplier effect of any economic sector.

“Manufacturing holds the key to solving this global challenge. Confronting climate change will not be easy. But with the right policies, it is neither the first nor the last challenge that manufacturing ingenuity will solve.”

Background: Today, President Biden announced a new target for the United States to achieve a 50–52% reduction from 2005 levels in economy-wide net greenhouse gas pollution by 2030, building on progress to date and by positioning American workers and industry to tackle the climate crisis.

Earlier this year, the 51�Թ��� released “The Promise Ahead,” its policy roadmap on addressing climate change.

-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 12.3 million men and women, contributes $2.33 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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 www.nam.org.

Washington, D.C. – 51�Թ��� President and CEO Jay Timmons released the following statement after the U.S. Senate passed the COVID-19 Hate Crimes Act with strong bipartisan support.

“This overwhelmingly bipartisan bill sends a clear and strong message that horrific violence against the AAPI community or any other race- or identity-based violence is incompatible with American values. Manufacturers will not stand by while hateful factions promote racism and intolerance in our communities, and this bill will help us more fully understand the problem so that all of us can take action.

“Manufacturers stand against all forms of hate and believe in a society and a workforce that has a place for all people, regardless of race, ethnicity, age, gender, religion, sexual orientation, gender identity, disability, national origin, economic status or other background. No American should be targeted based on who they are, and everyone should be encouraged to be their authentic selves every day.

“We owe it to ourselves to stay constructively uncomfortable and to have tough conversations about the role racism and discrimination plays in our society. As we work to build the future, manufacturers are committed to building an inclusive America whose strength comes from our diversity.”

-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 more than 12.3 million men and women, contributes $2.32 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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 www.nam.org.

Washington, D.C. – Following the unveiling of Senate Republicans’ infrastructure framework, 51�Թ��� President and CEO Jay Timmons released the following statement:

“Manufacturers applaud Senate Republicans’ proposal for infrastructure investment, just as we welcomed the release of President Biden’s bold infrastructure plan. This type of give-and-take is how we reach bipartisan consensus, and this is a chance to continue the conversation and restore trust between the parties after months of partisanship.

“Manufacturers’ future depends on historic investment that will empower America to lead the world in modern infrastructure. Building the next, post-pandemic world requires investing in roads, bridges, pipes, waterways, 5G, the electric grid and so much more. As manufacturers have laid out in our ‘Building to Win’ plan, we not only have a vision of where to invest but also how to pay for it without harming manufacturers’ competitiveness. So, we look forward to working with both parties to finally get this done.”

-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 12.3 million men and women, contributes $2.33 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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 www.nam.org.

Washington, D.C. – Following President Joe Biden’s call to employers across America to do everything they can to help their employees—and their communities—get vaccinated, 51�Թ��� President and CEO Jay Timmons released the following statement:

“Vaccines are how we get armed against COVID-19, protect our loved ones, grow our economy and get back to the moments we miss. The hard work and innovation of America’s pharmaceutical manufacturers, coupled with the Biden administration’s laser focus on vaccine distribution and the dedication of local vaccination teams across the country, have enabled the administration to double its lofty goal set for the first 100 days.”

President Biden announced that he expects the nation to have administered 200 million shots within his first 100 days. He called on every employer in America to offer full pay to their employees for any time off needed to get vaccinated and announced a paid leave tax credit that will offset the cost for businesses with fewer than 500 employees.

Timmons added, “Manufacturers remain absolutely committed to helping our teams get safely vaccinated. Through our ‘This Is Our Shot’ project, we’re making resources available to answer questions and share the facts about how these vaccines are safe and effective and have reached more than 2.25 million people to date. Additionally, many manufacturers have supported vaccination by giving employees time off to get vaccinated. With a new tax credit, it will be even easier for manufacturers and all employers to offer this option. This is our shot to finally end this pandemic, so we’re going to keep working with the administration, state and local leaders and our member companies to get everyone vaccinated as soon as possible.”

Background on “This Is Our Shot”:

Launched earlier this year, the project, live at , includes six main components: (1) science-based messaging research; (2) emergency industry convening and education, such as webinars; (3) an online vaccine information hub; (4) a PSA campaign; (5) the Yellow and Red Ribbon Initiative (for vaccinated individuals to show their peers they’re a part of the fight); and (6) a rapid response media and digital campaign. Resources available on the webpage are updated regularly, providing the latest information and tools for vaccine outreach and access.

-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 12.3 million men and women, contributes $2.33 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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. – Following the release of the 51�Թ���’ on the impact of proposed tax increases under consideration in Congress, the association is launching a six-figure ad campaign calling on Congress to protect manufacturing jobs. The print, radio and will run in Washington, D.C., and in key states.

“Corporate tax hikes and other tax reform rollbacks under consideration could lead to 1 million fewer jobs in the first two years alone and would drag down economic growth,” said 51�Թ��� President and CEO Jay Timmons. “After the 2017 tax reform delivered more globally competitive tax rates, manufacturers kept our promises to create jobs, raise wages and benefits and invest in our communities. Now is not the time to take a step back; it’s time to build the next, post-pandemic world, which can only be done with a competitive tax code.”

Background:

Key findings from the 51�Թ��� research paper, “Dynamic Estimates of the Macroeconomic Effects of Tax Rate Increases and Other Tax Policy Changes,” on the impact of proposed tax increases include the following:

• America would lose 1 million jobs in the first two years after implementation and cause a loss of 600,000 jobs on average each year over the next decade.
• By 2023, GDP would be down by $117 billion, by $190 billion in 2026 and by $119 billion in 2031.
• Ordinary capital, or investments in equipment and structures, would be $80 billion less in 2023 and $83 billion and $66 billion less in 2026 and 2031, respectively.

Background on manufacturing growth following the enactment of tax reform in 2017:

• In 2018, manufacturers added 263,000 new jobs. That was the best year for job creation in manufacturing in 21 years.
• In 2018, manufacturing wages increased 3% and continued going up—by 2.8% in 2019 and by 3% in 2020. Those were the fastest rates of annual growth since 2003.
• �Ѳ��Գܴڲ����ٳܰ����Բ���capital spending grew by 4.5% and 5.7% in 2018 and 2019, respectively.
• Overall, manufacturing production grew 2.7% in 2018, with December 2018 being the best month for manufacturing output since May 2008.

Read the full study and click for a summary of the study’s details and findings.

-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 12.3 million men and women, contributes $2.32 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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. – The 51�Թ��� released a new study detailing the short- and long-term damage to the American economy under tax proposals to increase the corporate tax rate and repeal policies that made manufacturing in America more competitive around the world.

“Manufacturers want to help President Biden achieve his goal of creating jobs in America and strengthening the supply chain so that our country does not face critical shortages, especially during times of national crises.

“As we slowly emerge from the economic catastrophe caused by COVID-19, American businesses are at a pivotal point in our nation’s history. Manufacturers can, and should, lead the economic recovery in the wake of the pandemic. But this study tells us quantitatively what manufacturers from coast to coast will tell you qualitatively: increasing the tax burden on companies in America means fewer American jobs. One million jobs would be lost in the first two years, to be exact,” said 51�Թ��� President and CEO Jay Timmons.

“After decades of advocating for a tax system that provided competitive rates and modern international tax provisions, manufacturers in America kept our promises following the enactment of the 2017 tax reforms: we raised wages and benefits, we hired more American workers, and we invested in our communities. If we undo those reforms, all of that will be put at significant risk. Manufacturing workers will lose out on jobs, growth and raises. We should be building on that progress, not rolling it back. But the conclusion of this study is inescapable—follow through with tax hikes that give other countries a clear advantage and we’ll see far fewer jobs created in America.”

The study calculated the effects of increasing the corporate tax rate to 28%, increasing the top marginal tax rate, repealing the 20% pass-through deduction, eliminating certain expensing provisions and more. The negative consequences would include the following:

• One million jobs lost in the first two years;

• By 2023, GDP would be down by $117 billion, by $190 billion in 2026 and by $119 billion in 2031;

• Ordinary capital, or investments in equipment and structures, would be $80 billion less in 2023 and $83 billion and $66 billion less in 2026 and 2031, respectively;

• And more.

“There are some who are well-meaning and have suggested that the U.S. corporate tax rate should increase, but not by as much as the 28% proposed. Unfortunately, what that means is that America will still lose jobs and investment, just not quite as much. America just can’t afford that, especially now,” Timmons said.

Click for a summary of the study’s details and findings. Read the full study, “Dynamic Estimates of the Macroeconomic Effects of Tax Rate Increases and Other Tax Policy Changes,” conducted by Rice University economists John W. Diamond and George R. Zodrow,”

Background on manufacturing growth following the enactment of tax reform in 2017:

• In 2018, manufacturers added 263,000 new jobs. That was the best year for job creation in manufacturing in 21 years.

• In 2018, manufacturing wages increased 3% and continued going up—by 2.8% in 2019 and by 3% in 2020. Those were the fastest rates of annual growth since 2003.

• �Ѳ��Գܴڲ����ٳܰ����Բ���capital spending grew by 4.5% and 5.7% in 2018 and 2019, respectively.
• Overall, manufacturing production grew 2.7% in 2018, with December 2018 being the best month for manufacturing output since May 2008.

Manufacturers strongly support President Biden’s focus on bold infrastructure investment, which can be achieved through a combination of revenue sources like those identified in the 51�Թ���’s ‘.’

-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 more than 12.3 million men and women, contributes $2.32 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% 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