The National Association of Manufacturers’ today applauded a report that this year’s deficit will come in 30% below projections and called on Congress to promote further pro-growth policies.
“These numbers make it clear that reducing taxes stimulates the economy,” said Jay Timmons, the NAM’s senior vice president of policy and government relations. “Now it’s time for Congress to finish the job by taking the next steps to reform the death tax and extend the R&D credit, and also pass a comprehensive energy plan.” According to Timmons, manufacturers face unnecessary burdens such as the death tax. “It is time for the Senate to finish the job that the House started and permanently reform the death tax” Timmons said.The NAM is also calling on Congress to take action to enhance and extend the R&D credit, which expired at the end of 2005, increasing the cost of R&D for nearly 16,000 companies that use the credit.