(Washington, D.C.) The Grocery Manufacturers Association (GMA) today welcomed the release of a tax reform proposal by the House Ways & Means Committee that moves the U.S. Congress one step closer to passing long-needed tax reform.
“This is a critical step forward towards enacting the first major overhaul of our tax system in 30 years. Food, beverage, and consumer products manufacturers have long supported necessary tax reforms to create good American jobs and help our economy thrive, and we applaud this progress,” said Pamela G. Bailey, GMA’s president and CEO. “By creating a tax system that includes a lower internationally competitive tax rate and a territorial approach, Congress can help level the playing field for our nation’s manufacturing industry, strengthen the purchasing power of American consumers, and drive economic growth 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, and tax reform could help fuel additional job growth for grocery manufacturers and workers.