One Year Later, Georgia Manufacturing Jobs Benefit From Working Families Tax Cut
This week, the National Association of Manufactures released a detailed report showcasing the economic impact for the manufacturing sector because of HR1: Working Families Tax Cuts. Last year, Republicans passed this legislation providing the largest tax cut for working Americans in history, despite near unanimous opposition from Washington Democrats. The National Association of Manufactures advocates for Americans who build things in America with a focus on free enterprise, competitiveness, individual liberty, and equal opportunity.
The report highlights the positive impact of the legislation in all fifty states. NAM President and CEO Jay Timmons said, “H.R. 1 is one of the most consequential pieces of legislation in a generation. Congress and the administration delivered the permanent, pro-growth tax code manufacturers needed to invest in their people, purchase new equipment and plan confidently for the long term.”
He continued, “As these stories illustrate, manufacturers are producing the equipment that keeps firefighters safe, delivering clean drinking water to families and helping America’s farmers feed the world. They are advancing breakthrough healthcare technologies, strengthening our defense industrial base and producing the components that power everything from space telescopes to spaceflight.”
Here is how Georgia benefited:
The legislation protected 198,000 jobs.
Georgia saved $36 billion in gross domestic product.
Georgia workers took home $18 billion in additional wages.
Report highlights the impact of this legislation on Winston Machine Company, a small manufacturer in Suwanee, Georgia.
Winston Machine designs and manufactures machinery used across a remarkable breadth of industries. The immediate R&D expense and EBITDA interest deductibility allowed the company to position themselves from their best year ever.
“As manufacturers, our ability to reinvest drives job creation, advances new technologies and supports our communities. I am committed to continue to help drive innovation and invest in the future manufacturing workforce here in the USA.” — Lisa Winton, CEO
Despite the enormous benefit to Georgians, Democrat Senator Jon Ossoff voted against it, calling these economic benefits a disaster. His Republicana opponent, Rep. Mike Collins voted for the legislation, championing it as a key part of the Trump agenda.
NRSC Regional Press Secretary Nick Puglia said, ““While Jon Ossoff voted against pro-worker tax cuts that are protecting Georgia manufacturing jobs and keeping billions of dollars in workers’ paychecks, Mike Collins is prioritizing workers and creating greater economic opportunity for families.”
