Cape News

Extending the Trump tax cuts could result in a $284 billion boost to the U.S. manufacturing sector, according to a study by the National Association of Manufacturers. This potential economic growth has prompted calls for swift legislative action.

Jason Smith, Chairman of the Ways and Means Committee, emphasized the importance of extending these tax cuts. "President Trump is wasting no time delivering on his economic promises for American workers and small businesses," he stated. Smith added that Congress is prepared to support an economy prioritizing working families.

Smith further elaborated on how extending these tax cuts could invigorate American manufacturing. He noted, "The bedrock of the new economy in the Golden Age of America will be the resurgence of American manufacturing." He believes that renewing and building upon these provisions will provide manufacturers with necessary stability for investment and growth.

During a recent committee hearing, Courtney Silver, a manufacturer from North Carolina, testified about the benefits of a stable tax code. She said, “We need pro-growth tax policies that are permanent, that are consistent, that are predictable, to help us be able to grow."