U.S. Representative Tom Petri (R-WI) is urging local manufacturers to participate in a congressional working group set up to collect and analyze input from the manufacturing sector on comprehensive tax reform.
The bipartisan Ways and Means Working Group on Manufacturing is one of eleven working groups established by the House Ways and Means Committee as part of its effort toward comprehensive tax reform. The Ways and Means Committee is responsible for writing and overseeing all revenue measures, including the tax code.
"There is no question that the tax code needs a thorough review," said Petri. "Manufacturing is a critical part of the U.S. economy, and Wisconsin is a major manufacturing state.
"Wisconsin's Sixth Congressional District traditionally ranks among the top in the country in terms of employment in manufacturing. And companies in our region contribute enormously to the production of goods that are sold across the country and around the world," Petri commented.
Petri believes an inefficient tax code affects global competition and can limit production. "The U.S. needs a robust manufacturing sector and a tax code that encourages innovation. I'm pleased that the Ways and Means Committee is interested in hearing from manufacturers so that American manufacturing can thrive," he said.
The working group emphasized the importance in receiving feedback from a "breadth of manufacturers," saying, "the more feedback and comments we receive on how the tax code affects the manufacturing sector, the more informed Congress will be in analyzing and creating a more pro-manufacturing tax code."
"Wisconsin manufacturers know what it takes to succeed, and their comments will be a valuable resource for the working group," said Petri. "I wholeheartedly encourage all manufacturers to submit their thoughts and suggestions for tax reform so that manufacturing can grow not only in Wisconsin, but across the country."