17吃瓜在线

Tax

Policy and Legal

Burgum Talks Taxes, Permitting and More

By 17吃瓜在线 News Room

At an 17吃瓜在线-sponsored breakfast at energy conference CERAWeek in Houston on Tuesday, Interior Secretary Doug Burgum assured 17吃瓜在线 board members that the administration has a manufacturing strategy in place, particularly regarding permitting, infrastructure development and manufacturers鈥 access to reliable and affordable energy.

A comprehensive strategy: In his remarks opening the event, 17吃瓜在线 President and CEO Jay Timmons discussed the five-pillar, comprehensive manufacturing strategy that the 17吃瓜在线 has been urging the Trump administration to implement.

  • 鈥淪ecretary Burgum, I just want you to know we鈥檝e been making the case for a听coordinated, comprehensive manufacturing strategy to give us the predictability and the certainty that manufacturers need to plan, to invest and to hire here in the United States, and that strategy has five pillars鈥攇oals that I know you share,鈥 Timmons said.
  • The goals are making the 2017 tax reforms even more competitive and permanent; securing regulatory certainty; expediting permitting reform to unleash American energy dominance; increasing the talent pool; and implementing a commonsense trade policy鈥攖o expand access to markets while keeping manufacturing competitive.
  • Timmons warned of the dire consequences the U.S. economy and manufacturers will face if lawmakers fail to extend the 2017 tax reforms. Among them: the loss of some 6 million American jobs, according to a recent .

An economic backbone: 鈥淢anufacturing, as you know, has been the backbone鈥 of the economy, Burgum said. 鈥淧resident Trump ran on bringing manufacturing back to the United States. His policies are driving to do that.鈥

Unleashing U.S. energy: Timmons praised President Trump for his day-one lifting of the previous administration鈥檚 liquefied natural gas export permit moratorium.

  • The 鈥渞ecent 17吃瓜在线 LNG found that the U.S. LNG export industry could support more than 900,000 jobs and add $216 billion to GDP by 2044,鈥 he said.
  • Said Burgum: 鈥淲e are looking at everything to try to, for the first听time, [have] streamlined government. … [and] it鈥檚 happening. It鈥檚 happening quickly.鈥

鈥淥ptimistic about the future鈥: The administration鈥檚 commitment to 鈥渓ow taxes and cutting red tape鈥濃攐n which President Trump鈥檚 recently created National Energy Dominance Council is focusing鈥斺渁re all things that are going to help lower your cost and create opportunities,鈥 Burgum continued.

  • 鈥淐apital is flowing to the U.S. at record levels.鈥 I鈥檓 very optimistic about the future.鈥

The last word: At another event at CERAWeek, a roundtable sponsored by Natural Allies for a Clean Energy Future, Timmons summed up manufacturers鈥 commitments.

  • 鈥淵es, we care about developing our natural resources to power our economy, certainly through manufacturing, but it鈥檚 also about people, here in the United States and around the world,鈥 said Timmons. 鈥淭he energy that we export, that is soft power for the United States. That expands our influence. That allows us to export not only our energy, but also our values. So I think that鈥檚 very, very important for our future.鈥
Policy and Legal

Timmons: 鈥淪takes Couldn鈥檛 Be Higher for Manufacturers Right Now鈥

By 17吃瓜在线 News Room

If Congress doesn鈥檛 act soon, manufacturers could face higher costs鈥攏ot just due to the new tariffs on goods from China, Canada and Mexico, but from expiring tax provisions, too, 17吃瓜在线 President and CEO Jay Timmons told the (subscription) in an interview during the first leg of the 17吃瓜在线鈥檚 . The interview was published late last week.

A quick recap: Tariffs on Chinese imports went into effect last month, and tariffs on goods from Canada and Mexico began last .

  • Last Thursday, President Trump signed two executive orders the tariffs for Mexican and Canadian imports that qualify under the U.S.鈥揗exico鈥揅anada Agreement, allowing them to enter the U.S. duty-free. Goods that cannot claim USMCA preferential treatment are subject to the new tariffs.

Why it鈥檚 important: 鈥淲ith some tariffs against Mexico, Canada and China in effect, manufacturers and consumers could be facing higher prices as the industry is heavily reliant on imports of goods the U.S. does not manufacture,鈥 the HBJ noted.

  • 鈥淭rade is very important to manufacturers,鈥 Timmons told the publication, adding that investments in domestic supply chains and manufacturing can take years to plan and develop, something that tariff policy should take into account.

The tax angle: The 2017 Tax Cuts and Jobs Act鈥攚hich President Trump first in a speech to the 17吃瓜在线 Board during the same year鈥攃ontained pro-growth tax provisions that were like 鈥渞ocket fuel鈥 for the manufacturing industry. But the continuation of those provisions is at stake: some of them have expired already, , and others are scheduled to sunset at the end of this year.

What should be done: The impact of tariffs on manufacturers and consumers can be mitigated and the problem of expiring tax policies solved with a commonsense strategy from the administration and Congress, Timmons told the HBJ.

  • On tariffs, there needs to 鈥渂e some sort of a runway to allow us to start lower and then perhaps ramp up over time to give manufacturers the ability to pivot and make those long-term investment decisions here in the United States,鈥 he said. 鈥淚f [tariffs] are implemented in a very thoughtful, common-sense and strategic way, the impact on manufacturers will be minimized.鈥
  • As for the tax provisions set to be eliminated, congressional leaders must remain focused on keeping them. 鈥淲hen President Trump signed those reforms in 2017, the following year, we had the best job creation in manufacturing that we鈥檝e had in this country in 21 years,鈥 Timmons said.
Policy and Legal

Survey: Trade Policies Shake Up Manufacturers鈥 Economic Outlook

By 17吃瓜在线 News Room

Manufacturers are increasingly worried about the future of trade and rising raw material costs, according to the .

What鈥檚 going on: In the most recent survey, conducted from Feb. 11 to Feb. 28, trade uncertainties moved to the top of the list of manufacturers鈥 concerns鈥攚ith 76.2% of respondents citing them as their primary worry. Increased raw material costs came in second, cited by 62.3% of those surveyed.

  • In fact, manufacturers expect prices on their companies鈥 product lines to go up by 3.6% in the next year, an increase from 2.3% in Q4 2024 and the highest since Q3 2022, when inflation was more than 8%.
  • Manufacturers also anticipate the cost of raw materials and other inputs to rise 5.5% in the next year, the highest expected rate of increase since Q2 2022, when inflation was between 8% and 9%.
  • Manufacturers foresee export sales to increase just 0.1% in the next year. That鈥檚 the lowest anticipated rise since Q2 2020 at the height of the COVID-19 pandemic.
  • In addition, the percentage of manufacturers with a positive outlook for their company inched down from the last quarter, to 69.7% from 70.9%.

Taxes: Manufacturers also feel strongly that their businesses need the 鈥渞ocket fuel鈥 of the tax reform extension. If Congress fails to extend pro-manufacturing provisions of the Tax Cuts and Jobs Act of 2017:

  • 69.35% of respondents said they would delay capital equipment purchases;
  • 45.23% would delay hiring;
  • 44.72% would pause operations expansions;
  • 41.71% would limit R&D investment; and
  • 40.20% would curb employee wages or benefits increases.

Our take: 鈥淭he pressure of increased costs, trade instability and sluggish demand is dampening the sector鈥檚 momentum, making it more difficult for manufacturers to plan, invest and hire,鈥 17吃瓜在线 President and CEO Jay Timmons a social post Thursday.

  • 鈥淲e are calling for a comprehensive manufacturing strategy that includes a commonsense trade policy in addition to making President Trump鈥檚 2017 tax reforms permanent and more competitive, securing regulatory certainty, expediting permitting reform to unleash American energy dominance and key manufacturing projects and increasing the talent pool.鈥
Policy and Legal

Lawmakers on Taxes, CHIPS, Trade and Workforce

By 17吃瓜在线 News Room

A day after President Donald Trump鈥檚 first address to Congress in his second term, the industry remains on edge amid the growing uncertainty of what鈥檚 being called a trade war by some in Washington.

What Congress is saying: We鈥檙e starting to see public comments from members of Congress on various topics in the president鈥檚 speech on Tuesday. Here鈥檚 what they鈥檙e saying.

Tax reform: House Ways and Means Committee Chairman Jason Smith (R-MO) committed yesterday to delivering a comprehensive tax bill to President Trump by Memorial Day, according to . Echoing 17吃瓜在线 President and CEO Jay Timmons鈥 repeated calls for a swift tax deal, Chairman Smith emphasized the urgency of providing certainty to small businesses and working families, stating, 鈥淔ailure is not an option.鈥

  • 鈥淸W]e have to move this one big, beautiful bill as quickly as possible,鈥 he said.
  • In recent weeks, Timmons has leveraged the 17吃瓜在线鈥檚 public platform extensively鈥攊ncluding through the , and radio interviews across the country, and op-eds in and 鈥攖o press Congress to act now and make the 2017 .

CHIPS: New Sen. Jon Husted (R-OH), the former lieutenant governor of the state, expressed support for the CHIPS and Science Act, emphasizing its bipartisan backing and importance of national security. 鈥淔or the economic and national security of America, we need to make chips in the USA鈥擨 believe this is part of an America First agenda,鈥 he wrote in a provided to The Columbus Dispatch.

  • House Speaker Mike Johnson (R-LA) to Punchbowl that nothing would be discussed on the CHIPS and Science Act until the president鈥檚 FY 26 budget.
  • Sen. Todd Young (R-IN) that the president鈥檚 mention of the act in his speech was 鈥渘ot consistent with the extensive conversations we鈥檝e had with the administration about the many successes and future of the CHIPS program and how it helps with our shared goal of creating a robust domestic chips supply.鈥

Trade and workforce: 鈥淎s I鈥檝e said, tariffs are a tool in the toolbox, but they must be strategic and support American jobs鈥攏ot create uncertainty that undercuts our domestic manufacturing,鈥 Rep. Debbie Dingell (R-MI) told the . 鈥淭he domestic auto industry currently relies on an integrated North American supply chain, and our trade policies need to reflect that.鈥

  • Sen. Thom Tillis (R-NC) zeroed in on implementation of any tariffs. 鈥淚f you鈥檙e talking about tariffs that are going to be inflationary, causing all kinds of retaliation and disrupting the markets, I鈥檓 almost certainly against them,鈥 he said in an with CQ Roll Call. 鈥淗owever, if you鈥檙e talking about tariffs that are used surgically 鈥 to be used judiciously and to build the economy, then I鈥檓 all for it.鈥
  • For Sen. Kevin Cramer (R-ND), according to (subscription), 鈥淚t comes down to how long [the tariffs] would last.鈥 He said you 鈥渃an鈥檛 simply turn on and off an inflationary switch鈥 or flip a switch to build manufacturing facilities in the U.S., 鈥渙r even harder yet, get the workforce to fill those jobs that would be created, particularly at the same time as you鈥檙e shirking immigration.鈥

Big picture: 鈥淢anufacturers are already planning for 2026, and they need the certainty to invest and grow now. We鈥檙e seeing bipartisan interest in these priorities, and the 17吃瓜在线 is building consensus to achieve exactly that and have even stronger champions for manufacturers in Congress to reinforce what we need to compete and win,鈥 said 17吃瓜在线 Executive Vice President Erin Streeter.

Policy and Legal

President Trump Cements Tariffs as a Fixture of Trade Policy

By 17吃瓜在线 News Room

In his first address to Congress in his second term, President Trump made it clear that tariffs are not just a temporary tool, but a fixture of his administration鈥檚 trade policy. The president discussed his vision for an 鈥淎merica First鈥 strategy, which includes the tariffs that went into effect and .

In his words: 鈥淒eals are being made,鈥 he said. 鈥淭hat鈥檚 a combination of the election win and tariffs. It鈥檚 a beautiful word, isn鈥檛 it?鈥

  • 鈥淚f you don鈥檛 make your product in America 鈥 you will pay a tariff and, in some cases, a rather large one. Other countries have used tariffs against us for decades, and now it鈥檚 our turn to start using them against those other countries.鈥
  • 鈥淥n average [according to the president], the European Union, China, Brazil, India, Mexico and Canada 鈥 and countless other nations charge us tremendously higher tariffs than we charge them. It鈥檚 very unfair.鈥
  • 鈥淸On April 2,] reciprocal tariffs kick in, and whatever they tariff us, other countries, we will tariff them鈥f they do nonmonetary tariffs to keep us out of their market, then we will do nonmonetary barriers to keep them out of our market.鈥

On Canada and Mexico: 鈥淸W]e have very large deficits with both of them. 鈥 We pay subsidies to Canada and to Mexico of hundreds of billions of dollars. And the United States will not be doing that any longer. We are not going to do it any longer.鈥

  • 鈥淭ariffs are about making America rich again and making America great again, and it is happening, and it will happen rather quickly. There will be a little disturbance, but we are OK with that.鈥

The 17吃瓜在线鈥檚 take: Ahead of the speech, 17吃瓜在线 President and CEO Jay Timmons pointed out in a that manufacturers鈥攅specially those with thin margins鈥攁re already feeling the pressure from new tariffs. 鈥淭he stakes couldn鈥檛 be higher for manufacturers right now,鈥 he said. The 17吃瓜在线 highlighted some examples after the tariffs went into effect yesterday from both small and large manufacturers:

  • A power-engineering manufacturer faces $25 million in additional costs from the Mexico tariffs alone, impacting the ability to supply U.S. utilities and industrial customers.
  • A major consumer goods manufacturer is looking at $231 million new costs from tariffs from Mexico and Canada.
  • A small copper manufacturer was forced to turn back 388,000 pounds of copper at the Canadian border when tariffs took effect, with future imports costing an extra $50,000 per truckload.

Comprehensive manufacturing strategy: 鈥淭o mitigate the adverse effects of today鈥檚 tariffs,鈥 Timmons said, 鈥淧resident Trump and Congress [need] to implement a that would create predictability and certainty to invest, plan and hire.鈥

  • That strategy should include making President Trump鈥檚 2017 tax reforms permanent and more competitive, securing regulatory certainty, expediting permitting reform to unleash American energy dominance and key manufacturing projects, increasing the talent pool and implementing a commonsense trade policy, Timmons added.
  • In recent weeks, including with the , Timmons has been raising the alarm on the need to move now on preserving and extending the 2017 tax reforms in the face of the uncertainty and price pressures.

The bottom line: 鈥淏uilding things in America only works if we can sell them around the world,鈥 said Timmons. He added this morning: 鈥淭hat鈥檚 why we鈥檙e urging President Trump and Congress to provide greater predictability with a phase-in period for manufacturers to adjust to new trade realities, while also establishing clear exemptions for critical inputs, enabling reciprocity in manufacturing trade.鈥

  • 鈥淧resident Trump can make American manufacturing greater than ever before by negotiating a 鈥榸ero for zero鈥 tariffs manufacturing trade deal with our major trading partners,鈥 Timmons said.

Developing: This morning on , Commerce Secretary听Howard Lutnick hinted publicly that he has heard the 17吃瓜在线 and the industry鈥檚 urging for relief from tariffs on Canadian and Mexican imports for products that comply with the U.S.鈥揗exico鈥揅anada Agreement鈥攁 signature achievement of President Trump鈥檚 first term.

Policy and Legal

President Trump Doubles Down on Tax Reform

By 17吃瓜在线 News Room

鈥淸T]he next phase of our plan to deliver the greatest economy is for this Congress to pass tax cuts for everybody,鈥 President Trump said last night, reiterating the importance of this key manufacturing policy priority. 鈥淭hey鈥檙e in there. They鈥檙e waiting for you to vote,鈥 he said.

The urgency: Even before price pressures from tariffs, the 17吃瓜在线鈥檚 with EY showed that failing to act now could cost the U.S. 6 million jobs鈥攊ncluding more than 1.1 million in manufacturing.

  • In addition, approximately $540 billion in employee wages will be lost, and U.S. GDP will be reduced by $1.1 trillion.

The 17吃瓜在线 says: 鈥淲hen President Trump signed these tax cuts into law, it was rocket fuel for manufacturing in America and made the U.S. economy more competitive on a global scale,鈥 Timmons last night. 鈥淭hat fuel is about to run out as key provisions have expired, and others are about to lapse. 鈥e must ensure these historic, pro-growth manufacturing provisions are made permanent and even more competitive so manufacturers can plan, grow and succeed.鈥

  • 鈥淢anufacturers need a deal now as they make decisions for investments in 2026 and beyond,鈥 17吃瓜在线 Executive Vice President Erin Streeter said. 鈥淓very day we delay costs investments, jobs and opportunity.鈥

Making the case: Since toward a tax deal with House Speaker Mike Johnson (R-LA), House Majority Leader Steve Scalise (R-LA), House Ways and Means Committee Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Mike Crapo (R-ID) at the Capitol in January, the 17吃瓜在线 has kept the pressure on lawmakers.

  • Yesterday during the president鈥檚 address to Congress, the 17吃瓜在线 leveraged a new , 鈥淲hen Manufacturing Wins, America Wins,鈥 to amplify its message even further.
Press Releases

Manufacturers to Trump and Congress: Act Now on Comprehensive, Commonsense Manufacturing Strategy as Tariffs Hit Manufacturing Industry

17吃瓜在线 President and CEO Jay Timmons released the following statement ahead of President Donald Trump鈥檚 address to a joint session of Congress:

鈥淭he stakes couldn鈥檛 be higher for manufacturers right now. Many manufacturers are operating on thin margins, and the tariffs imposed today will further strain their resources. For example:

  • A large manufacturer in the power-engineering sector that imports more than $100 million every year in components and products from Mexico now faces increasing costs of $25 million due to the tariffs. As a major supplier to the U.S. utility and industrial market, this will directly impact the ability for domestic utilities and industrial customers to maintain a safe, efficient and secure power grid.
  • Another large consumer goods manufacturer indicated the tariffs on Mexico will cost their company $200 million, and the Canadian retaliatory tariffs will add another $31 million鈥攖otaling $231 million, or $1.15 million per day.
  • A small copper manufacturer had nine truckloads of copper rod sitting at the Canadian border waiting to go through Customs when the tariffs went into effect, leading to 388,000 pounds of copper goods being returned to the supplier. If the tariffs remain in effect, bringing copper鈥攁 critical manufacturing input鈥攊nto the U.S. would cost the manufacturer nearly $50,000 per truckload going forward.

鈥淭o mitigate the adverse effects of today鈥檚 tariffs, manufacturers call on President Trump and Congress to implement a comprehensive manufacturing strategy that would create predictability and certainty to invest, plan and hire in America. This strategy includes the following actions:

  1. Make President Trump鈥檚 2017 tax reforms permanent and more competitive now. When President Trump signed these tax cuts into law, it was rocket fuel for manufacturing in America and made the U.S. economy more competitive on a global scale. That fuel is about to run out as key provisions have expired, and others are about to lapse. If Congress fails to act, it will cost America 6 million jobs, including more than 1.1 million manufacturing jobs. We must ensure these historic, pro-growth manufacturing provisions are made permanent and even more competitive so manufacturers can plan, grow and succeed.
  2. Restore regulatory certainty. Manufacturers are spending $350 billion each year just to comply with regulations鈥攎oney that could be spent on expanding factories and production lines, hiring new workers or raising wages. President Trump has taken action already to streamline burdensome regulations starting with lifting the liquefied natural gas export ban, but we need to move faster to deliver on our industry鈥檚 potential.
  3. Expedite permitting reform to unleash American energy. President Trump is already ending the war on America鈥檚 energy producers, but there is more work to do. America should be the undisputed leader in energy production and innovation, but we will not reach our full potential without permitting reform. We are seeing opportunities for energy dominance fade in the face of a permitting process that takes 80% longer than other major, developed nations.
  4. Strengthen the manufacturing workforce. Over the past year, we have averaged 500,000 open manufacturing jobs in America鈥攚ell-paying, life-changing careers. Manufacturers are struggling to fill critical jobs. We need a real workforce strategy that ensures we have the talent to grow, compete and lead.
  5. Implement commonsense trade policies that open global markets fairly and effectively. Building things in America only works if we can sell them around the world. That鈥檚 why we鈥檙e urging President Trump and Congress to provide greater predictability and a clear runway for manufacturers to adjust to new trade realities, while also making way for exemptions for critical inputs, enabling reciprocity in manufacturing trade.

鈥淢anufacturers are investing in America in record numbers, and President Trump is focused on strengthening manufacturing in the United States to grow our nation鈥檚 economy. We look forward to working with President Trump as he works to advance policies that will help manufacturers thrive and prosper because when manufacturing wins, America wins.鈥

-17吃瓜在线-

The 17吃瓜在线 is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.93 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 17吃瓜在线 is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 17吃瓜在线 or to follow us on Twitter and Facebook, please visit .

Policy and Legal

Lilly: 2017 Tax Reform Makes Four New U.S. Manufacturing Sites Possible

By 17吃瓜在线 News Room

Biopharmaceutical company Lilly will build four new manufacturing sites across the U.S., it announced Wednesday at a Washington, D.C., press conference. The event was attended by 17吃瓜在线 President and CEO Jay Timmons, Commerce Secretary Howard Lutnick, National Economic Council Director Kevin Hassett, Indiana Sen. Todd Young and Lilly Executive Vice President and President of Manufacturing Operations (and 17吃瓜在线 board member)听Edgardo Hernandez, among others.

What鈥檚 going on: Three of the planned manufacturing campuses will focus on producing active pharmaceutical ingredients, reshoring 鈥渃ritical capabilities of small molecule synthesis and further strengthening Lilly鈥檚 supply chain,鈥 the company said in a . The fourth site will 鈥渆xtend [Lilly鈥檚] global parenteral manufacturing network for future injectable therapies.鈥

  • The investment in the four sites will bring Lilly鈥檚 total U.S. capital expansion commitment to more than $50 billion since 2020.
  • Lilly鈥攚hich in recent years has made $23 billion worth of investments in new research and manufacturing sites in the American South and Midwest鈥攊s in talks with several states about building the facilities there, but it is accepting additional from states until March 12.

The anticipated benefit: The four sites are expected to create more than 3,000 permanent skilled jobs and more than 10,000 construction jobs during building, according to the company.

The tax reform factor: Lilly鈥檚 planned expansion reflects 鈥渄ecades of research and dedication,鈥 Timmons said at the event announcing the investment. It 鈥渋s the culmination of sustained planning made possible by the certainty created through smart public policy鈥攑articularly the 2017 tax reforms that President Trump 鈥 championed back at a meeting of the 17吃瓜在线 Board of Directors in September 2017.鈥

  • Many of those manufacturing-critical reforms have been allowed to expire, however, and others will expire at the end of the year鈥攗nless Congress acts, and soon, Lilly Chair and CEO David Ricks said.
  • 鈥淭he Tax Cuts and Jobs Act legislation passed in 2017 during President Trump鈥檚 first term in office has been foundational to Lilly鈥檚 domestic manufacturing investments, and it is essential that these policies are extended this year.鈥

Keep the momentum going: Lilly鈥檚 announcement shows other manufacturers 鈥渆xactly why [they] have reason for optimism and confidence,鈥 Timmons went on. 鈥淏ut to keep this momentum going鈥攖o encourage more groundbreaking investments, more job creation and more life-changing innovation鈥攁 comprehensive manufacturing strategy must become the reality 鈥 because when manufacturing wins, America wins.鈥

Policy and Legal

Tax Reform Keeps Humtown Humming

By 17吃瓜在线 News Room

鈥淗umtown is more than just a business. It鈥檚 a legacy,鈥 says CEO Mark Lamoncha. The 60-year-old Columbiana, Ohio鈥揵ased metal casting company has had three generations of Lamoncha leaders, starting with Mark鈥檚 father, Russell, who founded it as a small pattern shop in 1959. Today, Humtown is able to keep that legacy alive鈥攁nd growing鈥攊n large part due to tax policies that support innovation, investment and job creation.

The benefits: When tax reform introduced full expensing for capital expenditures and research and development in 2017, Humtown reinvested its tax savings in expanding its operations, hiring more workers and purchasing more equipment,听Lamoncha told attendees at an event at the Ohio Statehouse, part of the 17吃瓜在线鈥檚 .

  • 鈥淪ince the 2017 tax reform, Humtown has invested over $9 million in capital expenditures related to 3D printing and averages around $100,000 annually in R&D costs,鈥 said Lamoncha, noting that a single 3D printer can cost upward of $1 million.
  • 鈥淯nder the 2017 tax reform, we were able to deduct 100% of those costs, generating around $1.6 million in accelerated tax savings. That amount alone allowed us to purchase another 3D printer,鈥 he added.
  • These investments represent a huge benefit not only to Humtown, but to the larger supply chain it serves. Thanks to 3D-printing toolingless technology, Humtown recently fulfilled an urgent order of essential parts from an EV manufacturer, which traditional tooling would not have produced in time. The result: 鈥淭heir new product launched 22 weeks ahead of schedule鈥攑roving that smart tax investments drive real-world innovation and success,鈥 said Lamoncha.

The threat: As these and other tax provisions get phased out, Humtown is facing a painful increase in costs. Already, it is paying an additional $365,000 in taxes, which is 鈥渃utting back on our ability to reinvest in our team, new equipment and our growth plans,鈥 said Lamoncha.

  • But the cost for the manufacturing economy is much greater, he pointed out. 鈥淓very day Washington delays a tax deal, businesses are forced to second-guess investments, hold back on hiring and rethink expansion plans. For a small or medium-sized manufacturer, that鈥檚 the difference between adding a new production line or standing still鈥攁nd, for some, staying in business.鈥

The wider community: The threat to tax reform will not only harm Humtown, but prevent it from investing further in partnerships that benefit its entire community.

  • Humtown partners with Youngstown State University to educate students in grades 4鈥12 about 3D printing. The company houses a 3D sand printer purchased through the Ohio Third Frontier Grant program that is used mainly for educational programming.
  • In this 鈥渉ands-on, peer-led learning experience,鈥 students are taught both digital file creation and manufacturing processes, and then lead their peers through the factory as 鈥渃areer ambassadors,鈥 Lamoncha explained. (Watch one 9th grade group鈥檚 experience .)
  • Initiatives like these prepare young people for stimulating, high-paying careers in manufacturing, while ensuring manufacturers have enough young workers to keep growing in the decades to come.

The bottom line: 鈥淸V]isionary leaders like Jay Timmons and the 17吃瓜在线 team are fighting to restore U.S. manufacturing鈥攎oving us from just 10% of GDP back to 25% or more. But let me be clear: this won鈥檛 happen unless we align state and federal policies to make America the best place in the world to build, create and manufacture,鈥 said Lamoncha.

  • 鈥淲e have the talent. We have the technology. And we have the opportunity. Now, we need the commitment.鈥

 

Policy and Legal

Timmons: Tax Reform Paramount for Manufacturing Growth

By 17吃瓜在线 News Room

Manufacturers need an integrated, comprehensive strategy for expanding their sector, and a large part of that is preserving and bringing back tax reforms, 17吃瓜在线 President and CEO Jay Timmons on CNBC鈥檚 鈥淭he Exchange鈥 Wednesday.

What鈥檚 going on: Timmons spoke to the news channel from a teacher workroom at the Energy Institute High School in Houston, Texas, a stop on the first leg of the 17吃瓜在线鈥檚 . He told show host Kelly Evans that any plans to bolster manufacturing in the U.S. must 鈥渟tart with renewing those tax reforms from 2017.鈥

  • 鈥淎 smart strategy is going to involve reducing the cost of doing business for manufacturers here in the United States,鈥 he said, Republican House leadership for being 鈥渁ble to move鈥 forward a House budget bill 鈥渢hat’s going to set the framework for those tax rates to be set, hopefully, permanently in stone.鈥
  • The 665-student Energy Institute High School, led by Principal Lori Lambropoulos, is the first high school in the U.S. dedicated to preparing students for careers in the energy industry.

What else is needed: Timmons echoed some of the major themes from the 17吃瓜在线 State of Manufacturing Address, which he gave Tuesday in Ohio.

  • 鈥淲e also are looking at regulatory reform,鈥 he told Evans. 鈥淲e鈥檙e looking at expanding our energy dominance. We鈥檙e looking at workforce policy 鈥 and then, of course, we have to have a sensible trade policy as well.鈥

But back to taxes: Bringing back expired provisions from the 2017 Tax Cuts and Jobs Act, and making them and other, scheduled-to-expire provisions from the legislation permanent, is critical to manufacturing鈥檚 future success, Timmons continued.

  • 鈥淣inety percent of my 14,000 members are small and medium manufacturers. Most of them benefit from the pass-through deduction that expires this year. And I don鈥檛 think what you want to see is a huge tax increase that will cost in the economy happen if we don鈥檛 renew those reforms,鈥 he said, citing data from a recent on the effects of a congressional failure to act on tax reforms.
  • 鈥淭hat鈥檚 why the Speaker鈥檚 actions in the last day or so have been so incredibly important to get this thing moving forward. President Trump actually endorsed that bill鈥攖he 鈥榦ne big, beautiful bill,鈥 as he calls it鈥攁nd that will help make America great again for manufacturing.鈥

听Energy dominance: Also critical to the success of manufacturing and the U.S. economy as a whole: the right energy policies, Timmons said. Promising to 鈥渦nleash the energy sector,鈥 President Trump lifted the previous administration鈥檚 ban on liquefied natural gas exports on his first day in office.

  • Yesterday, the 17吃瓜在线 got to see first-hand some of the effects of that kept promise, when the team visited Freeport LNG鈥檚 liquefaction facilities near Houston.
  • More than 9,000 construction jobs were created during the construction of those facilities, which now directly employ about 400 people. Their operations have an estimated total positive economic impact on the U.S. economy of more than $5 billion a year.
  • 鈥淓nergy is 鈥 a critical national security component,鈥 Timmons said on CNBC.

Emphasis point: The tour also stopped at Bray International, a global leader in flow control and automation solutions, supporting U.S. energy dominance, LNG exports and high-tech manufacturing.

  • The visit helped underscore why policies that support manufacturing investment and provide certainty to manufacturers are essential to America鈥檚 economic future.

Up next: Today, the 17吃瓜在线 is in Alabama, where this morning Manufacturing Institute President and Executive Director Carolyn Lee gave the Manufacturing Institute鈥檚 at Drake State Community & Technical College in Huntsville. (The MI is the 17吃瓜在线鈥檚 501(c)3 workforce development and education affiliate.)听The theme: building the workforce of the future.

  • This afternoon, the team will tour Toyota Motor Manufacturing Alabama in Huntsville, the manufacturing facilities of Bruderer Machinery in Huntsville and Milo鈥檚 Tea Company in Bessemer.
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