Survey: Manufacturers Boosting Investments and Wages Thanks to Trump Tax Cut

Washington Free Beacon | 5/16/2018 | Todd Shepherd
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BY: Todd Shepherd

American manufacturers are investing in new equipment and facilities while also putting more money into workers' paychecks, according to a survey released Wednesday by the National Association of Manufacturers (NAM).

Emerson - Chairman - CEO - NAM - Board

Emerson chairman and CEO and NAM board chairman David Farr delivered the results of the new survey to the House Ways and Means Committee in testimony on Wednesday morning.

Of the manufacturers surveyed, 72 percent said they're putting extra money from the tax cuts back into workers' benefits and salaries, 77 percent said they were hiring more employees, and 86 percent said they were investing in equipment and building plants.

Manufacturing - America - Heights - Thanks - Tax

"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," Farr said in a press release. "They are already improving lives and livelihoods. And, as the survey results I'm releasing today show, we manufacturers are just getting started."

NAM also pointed to a part of the survey that indicated 93 percent of those surveyed were optimistic for their companies and for the economy in general. In the 20 years in which they have been conducting the survey, NAM said the optimism response was a "near-record" high, and respondents pointed to the tax cuts as a specific reason for their answers.

Unemployment - Percent - Wage - Growth - Eyes

While unemployment has recently sunk to 3.9 percent, wage growth has remained "tepid" in the eyes of some analysts...
(Excerpt) Read more at: Washington Free Beacon
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