Manufacturers Point to Tax and Entitlement Reform as Key to Solving Fiscal Problems and Creating Jobs09/29/11 - ational Association of Manufacturers (NAM) Senior Vice President for Policy and Government Relations Aric Newhouse issued the following statement today urging members of the Joint Select Committee on Deficit Reduction to go beyond their legislative mandate and take the steps necessary to ensure our nation’s overall competitiveness and economic growth:
“Manufacturers across the country are speaking out today because our nation’s economic health is at stake. Tackling entitlement and comprehensive tax reform is the only way to find a serious solution to our debt crisis, which is critical to long-term growth and job creation. We need an economy on sure footing that isn’t vulnerable because of its increasing debt.
To grow and compete, manufacturers need policies that create a stable economic environment. One step in the right direction will come with an overhaul of our tax system. We need a tax code that encourages investment and employment. Other countries are moving forward on the policies that make businesses more competitive, and we need to do the same.
That is only part of the solution; we also need to address entitlement programs. Job creators understand that hard choices must be made on spending, and we caution that those choices should not be at the expense of our nation’s competitiveness or security or at the risk of adding to the already high unemployment rate.
Manufacturers can lead our economic recovery and put people back to work if our policymakers take the steps now to help get our nation’s fiscal house in order.”