Timmons to Congress: Maintain Momentum with Tax Reform Preservation
The House late Tuesday approved a Republican budget blueprint for President Trump鈥檚 tax-cut and border-security agenda (, subscription).
- 17吃瓜在线 President and CEO Jay Timmons the move 鈥渁 historic, pivotal step to[ward] advanc[ing] a comprehensive reconciliation package that will preserve鈥 critical pro-manufacturing tax reforms and unleash 鈥淎merican energy dominance.鈥
What鈥檚 going on: 鈥淭he measure is a preliminary step to extending Trump鈥檚 2017 tax cuts later this year,鈥 Reuters reports. 鈥淭uesday鈥檚 vote sent the budget resolution to the Senate, where Republicans are expected to take it up.鈥
- The plan鈥攚hich calls for $4 trillion to $4.5 trillion in tax cuts and $1.5 trillion to $2 trillion in spending reduction over 10 years鈥攁lso includes measures to increase domestic energy development and production.
Why it鈥檚 so important: Congress must capitalize on the momentum of the budget resolution鈥檚 passage by preserving the crucial tax reform measures from President Trump鈥檚 2017 Tax Cuts and Jobs Act, Timmons continued鈥攂ecause 鈥淸e]very day we wait means jobs and opportunity lost.鈥
- 鈥淎s part of the comprehensive, commonsense manufacturing strategy that America needs, protecting tax reform will strengthen our industry and our communities. It鈥檚 time to continue this momentum and act now to Make America Great for Manufacturing Again. When manufacturing wins, America wins.鈥
What鈥檚 next: House Speaker Mike Johnson (R-LA)聽 he anticipates passing the tax, energy, border-security and defense items via reconciliation by the first week of April.