Manufacturers group sees record optimism amid Trump tax reform

The National Association of Manufacturers (NAM) has credited President Trump with delivering on his commitment to plow forward with bold tax reform. In a recent statement, NAM President and CEO Jay Timmons admitted there is “record-level optimism among manufacturers of all sizes, and it is in no small part because President Donald Trump has delivered on his commitment to put the full weight of the White House behind bold tax reform. Now is the time to think long term and act boldly. Our future depends on it.”

NAM’s Manufacturers’ Outlook Survey for the third quarter of 2017 showed the promise of tax reform has led to the highest three-quarter average of manufacturer optimism ever recorded by the organization. A large majority of manufacturers who took part in the survey said a pro-growth tax reform package would make them more likely to expand their business (64.3%), hire more workers (57.3%) and increase employee wages and benefits (52.2%).

The survey also found optimism among small and large manufacturers reached the highest three-quarter average in the survey’s 20-year history of 90.87%, up significantly from last year’s three-quarter average of 59.77%.

The release of the survey coincided with an address by President Trump at the NAM’s board of directors meeting. At the event, Trump made “a forceful case for pro-growth tax reform that will boost the manufacturing economy,” Timmons said.