Rep. Ron Kind's Legislation to Boost Manufacturing Included in Comprehensive Plan to Strengthen U.S. Economy

WASHINGTON, DC – U.S. Rep. Ron Kind’s (D-WI) legislation to promote American manufacturing by reducing the effective tax rate of domestic manufacturers has been introduced as part of the “Make It In America” plan, a pro-growth blueprint consisting of legislation aimed at strengthening manufacturing and creating more manufacturing jobs here in the U.S.

“Manufacturing is key to the future economic success of Wisconsin and the entire nation. Investments we make today in our manufacturing sector will pay dividends down the road,” said Rep. Kind. “Reducing the effective tax rate will help manufacturers innovate and grow, so that they keep good-paying manufacturing jobs here at home.”

Rep. Kind’s bill, the Rebuilding American Manufacturing Act (H.R. 2940), creates a new section of the tax code to promote American manufacturing by reducing the effective tax rate of domestic manufacturers to 20%. This will provide important benefits to firms that are investing and hiring domestically, and those firms can then use the savings to continue investments in innovation and growth here at home. 

The Rebuilding American Manufacturing Act places a high priority on supporting the stable jobs and sustainable wages the manufacturing sector offers. In Wisconsin, 16% of the private workforce is in manufacturing, well above the national average of 9%.

“This bill is a step in the right direction, but we need to continue working on removing barriers to growth and simplifying the tax code in order to keep and create jobs here in Wisconsin” concluded Rep. Kind. “And in fast-growing sectors like high-tech manufacturing, lowering tax rates will provide the boost that our companies need to compete in the global economy.”

The Make It In America plan is a unifying agenda designed to support job creation and encourage innovation. Many of the bills included in the plan enjoy support from labor and business leaders, as well as a bipartisan coalition in Congress. Ten Make It In America bills have already been signed into law.