WASHINGTON, D.C. – Extending the Trump tax cuts will unleash $284 billion in economic growth from manufacturing alone, according to a new study by the National Association of Manufacturers.
Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement on the need to extend the Trump tax cuts as quickly as possible:
“President Trump is wasting no time delivering on his economic promises for American workers and small businesses, and Congress stands ready to help rebuild an economy that puts working families first. Studies have now confirmed that extending the Trump tax cuts will supercharge American manufacturing, unleashing hundreds of billions in economic growth and creating new, good paying manufacturing jobs.
“The bedrock of the new economy in the Golden Age of America will be the resurgence of American manufacturing. Extending, renewing, and building upon the successful pro-growth, pro-manufacturing provisions of the Trump tax cuts as quickly as possible will give manufacturers who build and produce here in the U.S., the certainty they need to invest, to hire, and to grow their businesses. The American people who have suffered under the Biden economy for four years are counting on Congress to quickly deliver.”
During a recent Ways and Means Committee hearing, a manufacturer testified to how American businesses would benefit from a “predictable” and “pro-growth” tax code to help grow their industry and create jobs:
Courtney Silver, small North Carolina manufacturer: “We need pro-growth tax policies that are permanent, that are consistent, that are predictable, to help us be able to grow. Our manufacturing supply chain in our country needs us. They need us to grow. They need us here.”
READ: Smith Lauds President Trump’s Action Ending Biden’s Global Tax Surrender