Congressman Peter Roskam (R-IL) held a manufacturing roundtable today in Chicago, hosting over 40 CEOs, and local business owners, to discuss tax reform and the best methods to enact a tax system that will allow manufacturers in the U.S. to compete on a global scale. Congressman Roskam is a member of the Ways & Means Committee and a co-chair of the Manufacturing Working Group formulated to develop recommendations as Congress begins work on comprehensive tax reform.
Manufacturers in the U.S. face a 20% cost disadvantage compared to our global competitors. The current tax system plays a major role in that disparity and, frankly, it makes us less competitive as a nation. The NAM will be submitting comments to the tax reform working groups in the near future to help ensure that manufacturers voice is heard as the process continues.
NAM members such as Boeing, Devon Corporation, Case New Holland, Inc. and others joined the Congressman at the event – spreading the message that manufacturers need tax reform on both the corporate and individual rates. Two-thirds of all manufacturers pay taxes as S-Corps.
Events like these are an excellent opportunity for manufacturers to share our priorities and we certainly appreciate Congressman Roskam’s focus on policies that will lead to a true manufacturing resurgence.
Latest posts by Matthew Lavoie (see all)
- GlobalFoundries Taking Steps to Drive Future Innovation - October 21, 2014
- Manufacturers Gather in Seattle for NAM’s Leadership Engagement Series - October 16, 2014
- Capitol Hill Goes 3D - October 16, 2014