The National Association of Manufacturers (NAM), in a new survey of its members, found that hiring, wages, and investment were on the rise. The survey indicates the improvements are as a direct result of tax reform.
Emerson Chairman and CEO and NAM Board Chair David Farr introduced the findings while appearing in Washington, DC before the House Ways and Means Committee last week.
According to the data, 72% of manufacturers are increasing employee wages or benefits, 77% are hiring more workers and 86% are investing in new equipment and facilities. Last month, the NAM’s Manufacturers’ Outlook Survey found optimism among manufacturers registered the second-highest level ever recorded (93.5%) in the 20-year history of the survey.
“Almost exactly one year ago, I appeared before Congress to make the case for tax reform that would make America fiercely competitive. Congress and the President kept their promise and delivered. Now, it’s our time to keep our promises and deliver, and we are,” Farr said. “Manufacturing in America is now rising to new heights, thanks to tax reform, and as a result, manufacturers of all sizes are already investing more, growing more, hiring more and paying more. They are already improving lives and livelihoods.”