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Despite mixed market signals in recent weeks, the U.S. economy is strong and manufacturing is resilient—but Congress must take certain steps to maintain the industry’s competitiveness, 51�Թ��� President and CEO Jay Timmons Fox News host Neil Cavuto Monday.

What’s going on: When lawmakers return from their August recess next month, they should prioritize several tax provisions, Timmons said.

• “When … Congress goes back, we’ve got to deal with interest deductibility, and we’ve got to deal with the research-and-development ,” he continued. “We’ve got to deal with . Those are things that have expired.” These measures and others are top priorities in the 51�Թ���’s tax campaign, .
• Other manufacturing-critical tax provisions are scheduled to expire or be reduced drastically at the end of next year, including the and estate-tax deductions. What’s more, “candidates on both sides of the aisle … are talking about raising taxes on businesses,” Timmons said. Individual tax rates and tax rates on manufacturers that operate globally are also at the end of 2025.

Regulatory onslaught: Manufacturers are also struggling with a “regulatory burden that is driving up the cost of doing business,” Timmons told Fox News.

• “We have restrictions on our ability to develop energy sources here, and we have a ban on exports of natural gas. All of those things lead to potential downsides in the economy.”
• The vast majority of Americans exporting natural gas, a March 51�Թ��� poll found, but the Biden administration’s indefinite pause on permits to export liquefied natural gas, imposed in January, continues.

Hopeful outlook: “There is a … very positive sense among manufacturers that if we do the right things on the policy front, we’re going to continue [the] expansion in the sector,” Timmons added. “We’re going to continue the record investments that we’ve seen, the record job growth and the record wage growth in the sector.”