OPINION: Manufacturing must be key to tax reform
The denizens of Capitol Hill are gearing up for a substantial legislative effort: Tax reform. Senate Finance Committee Chairman Max Baucus (D-Montana) and House Ways and Means Chairman Dave Camp (R-Michigan) are conducting a listening tour of sorts before they get down to the business of updating an antiquated tax code for the modern economy. Their tour has taken them from Minnesota to Philadelphia, and now to the Bay Area:
The Max & Dave Simpler Taxes for America Tour stops in Silicon Valley and San Francisco on Monday at Intel and Square Inc., where the two legislators will meet with people and businesses about the burdensome tax code.
But don’t worry, Max and Dave. We saw you guys coming, and we've got some Silicon Valley-specific points to make for you. In an opinion for the San Jose Mercury-News, Alliance for American Manufacturing (AAM) President Scott Paul argues that when we reshape the tax code, we must make sure that the sector with the potential to create the most middle-class jobs for the economy – the manufacturing sector – isn’t left behind.
Globalization has meant that Bay Area manufacturers face competition not only from around the corner but also from around the world. Unless the tax code recognizes manufacturing's critical role in the economy, America is likely to see another wave of factory jobs lost as a consequence of ill-founded public policy.
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