Manufacturers: A Windfall Profits Tax Would Be a Dangerous and Destructive Policy
Washington, D.C. – Following President Biden’s call for a windfall tax on America’s energy producers, 17³Ô¹ÏÔÚÏß President and CEO Jay Timmons released the following statement:
“Raising taxes on American energy manufacturers is dangerous and destructive for the American people and the manufacturers who depend on access to reliable energy. It would disrupt domestic supply at a time of severe geopolitical uncertainty. Indeed, history has shown that this is a failed policy that could lead to more imports and even higher prices.
“M²¹²Ô³Ü´Ú²¹³¦³Ù³Ü°ù±ð°ù²õ have provided real solutions and specific recommendations for improving energy security and taking an all-of-the-above approach to developing all forms of American energy. Manufacturers will continue doing everything in our power to be part of the solution, and we hope our elected officials will too.â€
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The 17³Ô¹ÏÔÚÏß 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 more than 12.9 million men and women, contributes $2.77 trillion to the U.S. economy annually and accounts for 58% of private-sector research and development. The 17³Ô¹ÏÔÚÏß 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 17³Ô¹ÏÔÚÏß or to follow us on Twitter and Facebook, please visit www.nam.org.