Manufacturers large and small across the country have reported that tax reform will help grow the economy. In the National Association of Manufacturers’ (NAM) latest Manufacturers’ Outlook Survey, 64 percent of manufacturers said they planned to increase capital spending and expand their business if tax reform is passed, while more than half said they would hire more workers or increase wages and benefits.
We asked manufacturers to share with us how tax reform would impact their businesses. William, a sales and marketing director with WEC Manufacturing in Memphis, Tennessee, got back to us.
Tennessee is home to 341,500 manufacturing employees who generated $51.14 billion in 2016—16.28 percent of the state’s total economic output. “These are jobs that have good benefits and provide tremendous assets to our local community,” Tennessee Chamber of Commerce President Bradley Jackson said.
William, who has worked in manufacturing for more than 10 years, told the NAM that the business he works for “cannot expand further without tax relief” and stressed that he and his coworkers will benefit from bold tax reform:
Q: What will tax reform mean to your company in terms of investment, hiring and growing the business?
A: The current proposed tax reform will permit us to triple again in three years.
Q: How would that benefit manufacturing workers?
A: Increase the number of workers and their salaries.
Q: How would that benefit middle-class Americans?
A: Increase in wages, reduction of the cost of living, easing day-to-day life, decrease in costs of products and services and more money for savings and the future.
How will tax reform help your business? Share your tax reform story with us here or contact your representative about tax reform below!
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