ECIA Releases Latest ‘Channel Channel’ Podcast Episode
ATLANTA – ECIA’s latest podcast features highlights from a recent presentation by National Association of Manufacturers (NAM) guests Michael O’Brien, AVP Advocacy, and Christopher Netram, VP Tax and Domestic Policy. The informative session focused on the impact of proposed tax increases on U.S. manufacturers, provided tax policy perspective as well as engagement opportunities for our member companies.
NAM is encouraging manufacturers to provide input about the infrastructure legislation currently being debated. Following the release of the House Ways and Means Committee’s plan to increase taxes on manufacturers through the budget reconciliation legislation, National Association of Manufacturers Senior Vice President of Policy and Government Relations Aric Newhouse made this statement:
“There’s no getting past the fact that this tax plan adds up to fewer jobs for American workers. We know from experience that competitive tax rates spur job creation, higher wages and investment in communities. That’s exactly what we saw after the 2017 Tax Cuts and Jobs Act as manufacturers kept their promises. 2018 was the best year for manufacturing job creation in more than two decades. We also know from rigorous economic analysis that reverting to archaic tax policies has the opposite effect. A study of proposed tax increases—including a 25% corporate rate—found that America would lose 1 million jobs in just the first two years.”
“Building a strong economy takes more than wishful thinking; it requires a competitive business environment. Manufacturers are committed to rebuilding our economy and sustaining our recovery—even amid the surge of COVID-19 cases. If lawmakers share that commitment, then they would rethink tax proposals like this. Few policies would stall our recovery faster. Now is not the time to pursue policies in Washington that will hurt the families and communities of manufacturers in America.”
“I encourage our members to listen to this podcast or the webinar to learn more about this impactful legislation,” said David Loftus, ECIA President and CEO. “Companies need to understand how these tax increases are likely to affect the industry, and these two NAM experts have special insights that are well worth hearing.”
To learn more, go to ECIA Podcasts.