On October 1, at noon ET, ECIA will host a webinar with special NAM (National Association of Manufacturers) guests Michael O’Brien, AVP Advocacy, and Christopher Netram, VP Tax and Domestic Policy, to explore the impact of proposed corporate tax increases on U.S. manufacturers, provide tax policy perspective, as well as engagement opportunities for our member companies. The U.S. House Ways and Means Committee is considering legislation to increase taxes by approximately $2 trillion over the next decade as part of the Build Back Better Act (the budget reconciliation bill). The bill will negatively impact manufacturers across the U.S in every industry sector. The NAM has formally opposed this legislation and released a statement found here.
NAM is asking its association partners to join their campaign against the legislation. To that end, ECIA has hastened to schedule a Special Briefing webinar to explain the details of the legislation and why NAM believes it is the wrong approach, actually discouraging the renewal of manufacturing in the U.S.
In its statement, National Association of Manufacturers Senior Vice President of Policy and Government Relations Aric Newhouse said, “There’s no getting past the fact that this tax plan adds up to fewer jobs for American workers. Building a strong economy takes more than wishful thinking; it requires a competitive business environment. Manufacturers are committed to rebuilding our economy and sustaining our recovery—even amid the surge of COVID-19 cases. If lawmakers share that commitment, then they would rethink tax proposals like this.”
“This webinar will bring NAM’s expertise directly to ECIA members to unpack this important issue,” added David Loftus, ECIA President and CEO. “Our NAM guests have been walking the floors of the Capitol as this legislation was developing and have the most up to date knowledge about what the impact will be. I highly encourage all our members to spread the word and encourage their colleagues to attend this Special Briefing to learn what can be done to stop this ‘recovery-stunting’ legislation.”