Making Manufacturing Great Again
An U.S. News report shows that manufacturers are optimistic because of the Trump Administration's focus on tax reform. The report says executives are hoping to invest in more machinery and employees if they are able to pay less taxes.
A survey published last month by the National Association of Manufacturers polled executives at more than 500 U.S. goods-production outfits and found that 65 percent of respondents believed comprehensive tax reform would allow them to increase capital investments into new equipment and facilities. More than 64 percent said they'd be able to expand their business operations, while 57 percent said they'd bring on more workers.
Trump recently met with executives at the association and vowed during public remarks to "protect our manufacturers and our workers. And we will make taxes simple, easy and fair for all Americans."
"We are just trying to equip Trump and his administration as much as possible so they can get this [reform] through on Capitol Hill," says Rick Schreiber, head of the manufacturing and distribution practice at BDO USA accounting and consulting company. "But this is so great for U.S. manufacturers in so many ways."