JAY TIMMONS, President and CEO, National Association of Manufacturers, and MATTHEW SHAY, President and CEO, National Retail Federation: "[W]e have brought together two of the largest sectors of America's economy — manufacturing and retail — to help our elected leaders seize this once-in-a-generation opportunity. We don't agree on every detail. But we are setting aside our differences to promote tax reform that will benefit American workers and businesses. Together, our industries generate trillions of dollars in economic output and employ millions of workers — more than any other industry sector. But frankly, many of our businesses are suffering, and our workers are hurting. America's tax code is a big part of the problem." (Jay Timmons and Matthew Shay, Op-Ed, "Retail And Manufacturing United In Support Of Tax Reform," The Hill, 11/29/2017)
- TIMMONS and SHAY: "In the coming days and weeks, our elected leaders in Washington, D.C. have the chance to do something bold to improve the lives of all Americans, dramatically boost job creation and raise take-home pay for working families. Passing historic tax reform would deliver such immense benefits to U.S. workers that the opportunity should bring together Republicans and Democrats, the White House and Congress, in a shared effort to help the American people…" (Jay Timmons and Matthew Shay, Op-Ed, "Retail And Manufacturing United In Support Of Tax Reform," The Hill, 11/29/2017)
- TIMMONS and SHAY: "So far, the legislation proposed in Congress would help achieve these goals [of reducing the corporate tax rate, reducing taxes on small businesses, and modernizing international tax rules]. In addition, the plans include incentives for productive, job-creating investments in new plants and equipment. The plans also include middle-class tax cuts, which help working families and spur the growth of our economy…. The tax reform ideas supported by NRF and the NAM would generate tremendous benefits for the three main pillars of the U.S. economy: workers who build things, retailers who sell things and consumers who buy things." (Jay Timmons and Matthew Shay, Op-Ed, "Retail And Manufacturing United In Support Of Tax Reform," The Hill, 11/29/2017)
137 Economists: "'Ask five economists,' as the Edgar Fiedler adage goes, 'and you'll get five different answers.' Yet, when it comes to the tax reform package aimed at fixing our broken system, the undersigned have but one shared perspective: Economic growth will accelerate if the Tax Cuts and Jobs Act passes, leading to more jobs, higher wages, and a better standard of living for the American people. If, however, the bill fails, the United States risks continued economic underperformance." (Op-Ed, "An Open Letter To Congress Signed By 137 Economists Supporting GOP Tax Reform Bill," CNBC, 11/29/2017)
- "The enactment of a comprehensive overhaul – complete with a lower corporate tax rate – will ignite our economy with levels of growth not seen in generations. A twenty percent statutory rate on a permanent basis would, per the Council of Economic Advisers, help produce a GDP boost 'by between 3 and 5 percent.' … We firmly believe that a competitive corporate rate is the key to an economic engine driven by greater investment, capital stock, business formation, and productivity – all of which will yield more jobs and higher wages." (Op-Ed, "An Open Letter To Congress Signed By 137 Economists Supporting GOP Tax Reform Bill," CNBC, 11/29/2017)
- "Our colleagues from across the ideological spectrum – regardless of whether they ultimately support or oppose the current plan – recognize the record-setting rate at which the United States taxes job-creating businesses is, either significantly or entirely, a burden borne by the workers they employ. The question isn't whether American workers are hurt by our country's corporate tax rate – it's how badly. As such, the question isn't whether workers will be helped by a corporate tax rate reduction – it's how much." (Op-Ed, "An Open Letter To Congress Signed By 137 Economists Supporting GOP Tax Reform Bill," CNBC, 11/29/2017)
Tags: Tax Reform, Economy, Economists, Manufacturers, Retailers Associations To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service and "Like" Facebook Page - Thanks!
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