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’s Moutray Highlights Role Of Tax Reform In Delivering Better-Than-Expected US Economic Growth During Small Business Week.
In a blog post for Shopfloor (4/30), NAM Chief Economist Chad Moutray writes that "businesses large and small got a lift this week following US economic growth of 2.3%, which bested the consensus estimate of 2.0%.” Moutray emphasizes that "the most recent NAM Manufacturers’ Outlook Survey [found that] 93.5% of manufacturers said they were positive about their own company’s outlook, the second-highest reading in
the survey’s 20-year history,” and "optimism among small manufacturers registered a new all-time high, with a reading of 94.5%.” He adds that "the factors behind this sky-high optimism include a new attitude out of Washington over the last couple years that have resulted in pro-growth policies like regulatory reform and – significantly – tax reform.” Several tax reform provisions aid small businesses in particular, Moutray says, writing that "aside from the overall reduction in the tax rate, the new tax law includes for instance additional
advantages for small business, like allowing for deductions of the cost of new business equipment right away.” Moutray concludes that "to support the success of small business, the NAM and its members will continue to push for other good ideas too to support the continued success of small manufacturers – whether in trade, taxes, or infrastructure.”