Kind Rolls Out Bill to Reduce Tax Rate for Manufacturers at Shape Products in Menomonie07/02/12
Washington, DC – U.S. Rep. Ron Kind, member of the tax-writing House Ways and Means Committee, today visited Shape Products in Menomonie to roll out legislation that encourages American manufacturing by lowering the effective tax rate for domestic manufacturers to 20 percent. Shape Products, which produces thermal molded window well covers and other glass coverings and has worked with the Northwest Wisconsin Manufacturing Outreach Center, is one of several western Wisconsin manufacturers that stand to benefit from the legislation.
“Investing in American manufacturing is critical to remaining competitive in a global economy,” said Rep. Kind. “Reducing the effective tax rate gives our manufacturers greater opportunity to succeed globally. It will help them keep facilities in the Unites States, produce American goods, hire American workers, and continue to grow and innovate. This is a commonsense investment in America’s future.”
According to the Bureau of Labor Statistics, approximately 1.9 million workers are employed by domestic manufacturers. The manufacturing industry provides stable jobs and on average, provides wages that are above the national average and offers a gateway to the middle class.
“In this recovering economy it is extremely important that we help keep and grow American manufacturing,” said Rock Eiden, Owner of Shape Products. “Manufacturing has always been the backbone of our society and it is the key –especially in Western Wisconsin – to a strong economic outlook. Congressman Kind’s bill is helping us to compete in a global market and keep “Made in the USA” on our products. We thank Mr. Kind for recognizing the importance of our industry and his dedication to the people of Wisconsin.”
"We work side by side with northwestern Wisconsin manufacturers throughout the year and hear about the variety of challenges they are facing" said Larry Blackledge, Director of Northwest Wisconsin Manufacturing Outreach Center (NWMOC). "While our interactions provide assistance required to excel in key success categories, the continued success and growth of our strong manufacturing communities can multiply in impact as additional means of support are provided, such as Congressman Kind's bill."
Congressman Kind’s bill, H.R. 5795, places a high priority on supporting these stable jobs and sustainable wages in the American manufacturing industry. Movement on comprehensive tax reform must remove barriers to growth and simplify the tax code but it must also increase U.S. competitiveness, boost economic growth, and foster the creation of sustainable American jobs. The Rebuilding American Manufacturing Act does this by creating a new section of the tax code that provides a significantly lower tax rate for domestic manufacturers, providing important benefits to firms that are investing and hiring here in the United States. These firms can then use the savings to continue investments in innovation and growth.
“Manufacturing is the backbone of Wisconsin’s economy,” said Kurt Bauer, President and CEO Wisconsin Manufacturers & Commerce. “We applaud Congressman Kind’s efforts to make Wisconsin manufacturers more competitive in a global economy.”
“If America wishes to compete for manufacturing jobs in an increasingly competitive global marketplace, then it must present a compelling case to businesses that are considering where they will locate their operations,” said Cindy Brown of Chippewa Valley Bean Co. “This Act helps level the playing field where taxes are concerned, putting us in a better position to bring good-paying manufacturing jobs back to our shores. It’s not only needed for the health of American manufacturing and the American economy – it’s long overdue.”
“Today, U.S. domestic manufactures are the most productive in the world,” said Mike Bedessem, CFO Organic Valley. “Lower tax rates on this activity will help increase our competiveness as a center of world class manufacturing.”
“Since our founding in the 1930s, Ocean Spray has been proud to support our country's economy by manufacturing our products in America,” said Fran Podvin, Chairman of the Board, Ocean Spray Cranberries, Inc. “With the passage of this bill, Ocean Spray can continue to invest in -- and create jobs at -- our manufacturing facility in Tomah, Wis. We strongly support efforts to facilitate the needed investments in the rural communities supported by the U.S. cranberry industry and related agriculture industries and commend Representative Kind for his efforts to stimulate U.S. jobs and manufacturing.”