Jay Timmons, executive vice president of the National Association of Manufacturers, will be on C-SPAN’s Washington Journal at 7:30 a.m. Thursday morning. He’ll be discussing the NAM’s new economic forecast for 2008:
WASHINGTON, D.C., January 23, 2008 – The release of the National Association of Manufacturers’ 2008 Economic Forecast today points to “a recession being averted but a significant deceleration in GDP growth through the first half of this year due to surging energy prices and a slowdown in corporate profits that will hold down business spending.”
And the NAM’s plan for economic growth, which includes tax relief to encourage investment.
“The best way create jobs is to jump start business investment with an enhanced capital-cost recovery system,” said Dorothy Coleman, the NAM’s vice president for tax and domestic economic policy. “The NAM is advocating a package of tax relief proposals geared toward economic growth. As we saw in 2003, a pro-business investment growth package can make a real difference.”
The NAM’s tax relief proposals include a 50 percent bonus depreciation provision for business investment. According to the report, this would nearly double the growth of business investment this year resulting in a half percentage point added to GDP growth, faster manufacturing output and an additional 112,000 manufacturing workers by the end of this year.
That’s C-SPAN, Washington Journal, 7:30 a.m.
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