National Association of Manufacturers President and CEO Jay Timmons on Tuesday explained why tax reform is crucial to helping America’s manufacturing industry.
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“Comprehensive tax reform that lowers the tax rate, that recognizes that we have a global economy and that enables investment or incentivizes investment and job creation is absolutely critical because ultimately, if manufacturers have to make decisions about where to do business in the world, they have to make the decision to go to lower cost jurisdictions,” he told FOX Business’ Gerri Willis.
Timmons explained that he was pleased with House Speaker Paul Ryan’s speech on tax reform at the organization’s summit because his focus was on restoring confidence in America and in the country’s business community.
Additionally, he believes that a new tax reform plan will help restore Americans’ confidence in the new administration.
“Tax reform, especially business tax reform, is designed to help those people who most need it,” Timmons said. “It is designed to create jobs, it’s designed to lift the quality of life for all Americans, especially those who feel like they were left behind and that responded so overwhelmingly in this last election.”