(Washington, D.C.) The Grocery Manufacturers Association (GMA) today praised the announcement of the tax framework developed by the Trump Administration and House and Senate leaders.
“Release of this new framework is a critical step towards vitally needed tax reform that will generate economic growth,”said Pamela G. Bailey, GMA’s president and CEO.
“We need a tax system that puts American manufacturing on a level playing field with the rest of the world,” Bailey said. “This is our best opportunity in 30 years to enact meaningful tax reform. Congress must take swift action on bold, pro-growth tax reform to provide much-needed relief to American families and the businesses that create jobs for American workers.”
The food, beverage and consumer products industry plays a unique role in America as the single largest U.S. manufacturing sector, with 2.1 million jobs in 30,000 communities across the country. As a critical driver of the economy, this industry touches the lives of every American family every day.
“As more details are provided, we will review these tax reform proposals against a set of core principles embraced by the food, beverage, and consumer products sector,” Bailey said. “Our industry supports a lower tax burden for hardworking Americans, lower tax rates for American employers, and a globally competitive, territorial tax system. Tax reforms should fuel consumer purchasing power and business investments in innovation, which will generate more job growth for American families.”
On September 21st, GMA sent a letter to President Trump and other key tax negotiators calling for action this year on tax reform that helps American consumers, spurs innovation, levels the playing field for U.S. manufacturing and creates jobs.
The Grocery Manufacturers Association (GMA) is the trade organization representing the world’s leading food, beverage and consumer products companies and associated partners. The U.S. food, beverage and consumer packaged goods industry plays a unique role as the single largest U.S. manufacturing employment sector, with 2.1 million jobs in 30,000 communities across the country that deliver products vital to the wellbeing of people in our nation and around world. Founded in 1908, GMA has a primary focus on product safety, science-based public policies and industry initiatives that seek to empower people with the tools and information they need to make informed choices and lead healthier lives. For more information, visit gmaonline.org.