Don’t throw a tax wrench in the gears
The Nov. 26 editorial “How to win on taxes” called for a “reordering” of the tax code that would include “revenue increases.” Manufacturers in America wonder: Why would we want to stall the successful progress of the tax reform legislation that is almost one year old when it is empowering our companies to invest in our people and our communities?
It has led to raises, bonuses, increased benefits and more jobs for manufacturing workers. The National Association of Manufacturers surveyed our members this year, and 77 percent of manufacturing companies polled planned to increase hiring, and 72 percent planned to increase wages and benefits. In addition, 86 percent planned to increase investments in tools, equipment and facilities.
We are starting to see the results. In October, manufacturing production rose to the highest level in 10 years. On average, 25,000 new workers have joined the manufacturing industry each month over the past year. This is a stark turnaround from the 3,000 jobs our sector lost in 2016.
Rolling back tax reform would mean rolling back this progress. Manufacturers in the United States finally have a tax code that allows us to compete on a more level playing field with the rest of the world. We cannot afford to go backward.
Jay Timmons, Washington The writer is president and chief executive of the
National Association of Manufacturers.