NAM Releases Tax Reform Story: Georgia's Winton Machine Investing In New Equipment

AICC, through its membership in the Council of Manufacturing Associations, is pleased to present the "Manufacturing Economic Daily Newsletter” from the NATIONAL ASSOCIATION OF MANUFACTURERS (NAM).

NAM Releases Tax Reform Story: Georgia’s Winton Machine Investing In New Equipment, More Worker Training Thanks To New Law.

In a blog post for Shopfloor (5/1), NAM Vice President of Brand Strategy Chrys Kefalas discusses how tax reform is helping manufacturers, "increasing workers’ paychecks, improving business and freeing up money for once-difficult purchases.” Kefalas highlights the experience of Winton Machine Company, a Georgia manufacturer, writing that "tax reform has enabled the company to land its largest contract ever.” Co-founder Lisa Winton says that "tax reform is enabling companies to make significant capital investments, and it’s creating more business for us and other small manufacturers,” adding that "anticipates making her own capital investments” for her company. NAM Vice President of Tax and Domestic Economic Policy Chris Netram is quoted saying, "Tax reform has been a game-changer for many small manufacturers. For small businesses that rise and fall on their cash flows, immediately deducting the cost of capital equipment purchases – rather than recovering these amounts over years – provides an incentive to invest today in the machinery that will power future growth.” The post further quotes Winton on the impact of tax reform, saying, "The NAM [and lawmakers in Washington] were successful in allowing me the opportunities as a pass-through business to get those deductions to have that lower tax rate to be able to invest in my business, in addition to still holding onto those R&D tax credits, which are so critical and important … because we came to market with two new machines last year, and we couldn’t have done that without the R&D tax credit.” She adds, "I have a bright outlook on tax reform; just knowing that I have a reduction in my tax in addition to keeping the credits that I so need while business is getting better is a good combination. And I can free up cash to train employees.”

Read Full Newsletter