Last month, President Donald Trump visited Pennsylvania to highlight the incredible tax reform success story at H&K Equipment. Today, he is flying to Ohio to visit another local manufacturer benefiting from the tax law, as well as lay out the case for how tax reform will help manufacturers across the country in 2018 and beyond.
The company, Sheffer Corporation, manufactures hydraulic, pneumatic and custom cylinders for the marine, agriculture, oil and gas and aerospace industries. Because of the new changes to the tax code, Sheffer was able to give $1,000 bonuses to each of the company’s 126 employees this year. Sheffer President and CEO Jeff Norris appeared on “Fox and Friends” Monday morning to discuss the president’s visit and shared his company’s tax reform story:
“We really calculated our tax savings that we’re going to receive; we figured it was going to be 8 percent to 10 percent on any of our profits. We calculated a little over $100,000, so we paid a $1,000 bonus to each of our 126 employees….they were overjoyed. Some people have said that’s ‘crumbs,’ but for the Sheffer people, we consider that fine dining.”
— Fox News (@FoxNews) February 5, 2018
During his visit, President Trump will share the story of another Ohio manufacturer, Jergens, which decided to double the annual pay raise for its employees due to the tax law and boost its research and development, which the company says will mean more hiring in the near future. Last week, the president met with a Jergens employee, Jessica Melendez, who explained how the tax reform law is helping both her and her company:
Jergens, she told President Trump, will also use the tax cut to reinvest in the company, and she sees that as a sign that the company is in good financial health. After her visit, Melendez said walking into the Oval Office is something she will never forget.
“I didn’t know he was going to be in there when I was walking in, and when I saw him, it was unbelievable,” she said.
Melendez disagrees with critics who say the tax cuts amount to crumbs for working Americans.
“I live and work for my children, and every dollar helps,” she said.
We appreciate how President Trump is placing National Association of Manufacturers’ members and manufacturing front and center. Pro-growth, pro-worker policies that help manufacturers expand and compete are vital for the 687,000 manufacturing workers in Ohio. These are high-paying jobs—the average Ohio manufacturer earns $72,534—and manufacturers in the state generated $108.09 billion in 2015.
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