In the News

WASHINGTON – In a new op-ed in Fox Business, House Majority Whip Tom Emmer (R-Minn.) and National Association of Manufacturers President and CEO Jay Timmons make the case for continuing the 2017 Tax Cuts and Jobs Act through reconciliation. The op-ed comes ahead of Whip Emmer’s “Invest in America” roundtable discussion with U.S. Treasury Secretary Scott Bessent, Mr. Timmons, and manufacturers from across America.

In case you missed it…

There is one way to make manufacturing great again, and Congress must do it now
Fox Business
Majority Whip Tom Emmer and NAM CEO and President Jay Timmons
April 8, 2025

Imagine an America where strength, prosperity, and peace are not just hopeful ideals but lived realities—where the American worker is supported, economic growth is encouraged, and manufacturing is our superpower. 

The expiration of the Tax Cuts and Jobs Act would be detrimental to American businesses, manufacturers, consumers, and families. If Congress does not act to ensure President Donald Trump’s successful tax plan stays in place, taxes will go up for Americans at every income level. The average American would see a tax hike of 22 percent, over $1,600.

A recent National Association of Manufacturers study indicated that failing to preserve these tax reforms will cost America 6 million jobs, $540 million in wages, and our economy will suffer a $1.1 trillion hit.

When President Trump signed the 2017 tax cuts into law, it was rocket fuel for manufacturing in America and a win for every American worker. The year 2018 was the best for manufacturing job creation in the last 21 years. We had higher wages, enhanced benefits, and record-breaking investments in new plants. These critical tax reform provisions have already begun to sunset, and more are set to expire at the end of 2025—the rocket is running out of fuel.  

Provisions like full expensing allow businesses that frequently buy machinery, tools, and other factory upgrades, to immediately deduct the cost of those purchases in the same year. These businesses can then use that freed up cash they would otherwise pay in taxes to reinvest in more equipment and higher wages for their workers. 

Keeping another provision, Section 199A, would continue a 20 percent deduction for 26 million American small businesses. An Ernst and Young study in 2024 showed that 2.6 million jobs were supported by this provision, and that it added $325 billion to America’s economy and $161 billion to workers’ pay. 

These are just two examples of President Trump’s pro-growth, pro-America, and pro-manufacturing tax cuts. Protecting them will be at the heart of Republicans’ agenda this year, safeguarding Americans’ way of life. 

Continuing the Trump tax cuts will not only prevent the largest tax hike on American families and business in history but will turbocharge economic growth and prosperity, delivering $284 billion in economic growth from manufacturing alone. 

After the Biden administration delivered a regulatory state that acts as a wet towel on the growth of small businesses, Congress must step up to unleash prosperity in our great nation. 

Right now, manufacturers are spending $350 billion each and every year just to comply with regulations—money that could be spent on expanding factories and production lines, hiring new workers or raising wages. Thankfully, this administration is already hitting the brakes to balance the regulatory framework that will allow the industry to move ahead with transformational investments that will strengthen our manufacturing nation.

President Trump proclaimed to Congress and the American people in March, "We are going to renew the unlimited promise of the American dream."

We can achieve this by giving American workers the certainty and prosperity they deserve—benefiting our entire nation and making America the best place to manufacture. 

The time to act is now. Failure is not an option.

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