Manufacturers vowed to keep their promises and deliver for workers and communities following tax reform—and as shown by numerous examples already, manufacturers are doing just that. The National Association of Manufacturers (NAM) have new data that shows even more good news is on the way.
In testimony before the House Ways and Means Committee, NAM Board Chair and Emerson Chairman and CEO David Farr shared the results of a survey of NAM members about tax reform:
- 72 percent of manufacturers report that they plan to increase employee wages or benefits
- 77 percent plan to hire more workers
- 86 percent have already planned expanded investments
NAM has shared the latest survey results with members of Congress in the form of a pocket card they can easily reference. And as part of their “Keeping Our Promise” campaign, the NAM is also rolling out each week new stories on their blog, Shopfloor.org, of manufacturers that are raising wages, expanding operations or giving back to their local communities—all thanks to tax reform.
“Like the NAM, we are hearing from our member companies they are reinvesting the planned savings from tax reform by boosting investments in human capital (either hiring, giving raises or bonuses) and/or other capital investments,” said Ray McCarty, president of Associated Industries of Missouri, NAM’s official designated partner organization in Missouri. “Coupled with the tax savings that will be realized from tax reform we fought hard for in the legislative session that ended last Friday, all Missouri businesses will enjoy tax savings and we believe they will put that money to work to stimulate the economy,” said McCarty.