News & Insights

Washington, D.C. – Following the Department of Treasury’s announcement that the United States has finalized a side-by-side agreement with OECD allies that will shield manufacturers in America from damaging taxes, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“Thanks to President Trump, Secretary Bessent and the administration, this finalized side-by-side agreement—cementing the initial agreement reached in summer 2025—will protect both domestic and foreign-headquartered manufacturers investing in the United States from oppressive, job-killing taxes. Heeding the call of our industry, this deal will shield manufacturers from damaging taxes that unfairly stifle job creation in the U.S.

“Furthermore, today’s finalized deal gives manufacturers greater certainty to unlock the full potential of the historic tax provisions of H.R. 1 that manufacturers championed.

“The side-by-side global tax system will ensure that manufacturers in the U.S. can compete on a level playing field, invest in their operations and hire more workers. In short, this deal is a massive triumph for manufacturers in the United States.”

-NAM-

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.90 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org. 

733 10th St. NW, Suite 700 • Washington, DC 20001 • (202) 637-3000

Washington, D.C. – Following recent developments in Venezuela, National Association of Manufacturers President and CEO Jay Timmons released the following statement:

“The National Association of Manufacturers has long monitored developments in Venezuela because of the profound impact that political instability, authoritarian governance and the erosion of the rule of law have had on manufacturers in the United States and broader U.S. and hemispheric economic interests.

“For years, the Maduro regime—and the Chávez regime before it—has dismantled democratic institutions, violated fundamental rights and undermined legal protections for investment. Manufacturers in the United States have been directly harmed through the expropriation and nationalization of U.S. assets without due process, driving away investment and destroying economic opportunity for the people of Venezuela.

“Manufacturers believe that respect for the rule of law, private property and democratic governance is essential to restoring stability and economic growth in Venezuela. A democratic path forward is critical to achieving that outcome.

“At this pivotal moment, we urge Congress to engage with the Administration on how recent events can serve as a catalyst for a constitutional, democratic transition that restores the rights of the Venezuelan people, respects lawful American investments and lays the foundation for renewed economic opportunity in Venezuela and throughout the Western Hemisphere.”

-NAM- 

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.90 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org. 

733 10th St. NW, Suite 700 • Washington, DC 20001 • (202) 637-3000 

Washington, D.C. – Following House passage of the bipartisan Standardizing Permitting and Expediting Economic Development (SPEED) Act by a vote of 221-196, National Association of Manufacturers President and CEO Jay Timmons released the following statement: 

“With permitting reform, manufacturers will be able to build and expand operations all across the country, creating more well-paying jobs that strengthen communities and help families thrive. It’s about lifting people up, expanding opportunity and making the American Dream a reality. 

“Permitting reform is the key that allows us to realize the benefits of historic tax reforms fully, make America energy dominant, lead the world in artificial intelligence and drive innovation on shop floors. Measures like the SPEED Act, which is a cornerstone of the NAM’s ‘Manufacturing’s Roadmap to AI and Energy Dominance,’ will boost American competitiveness and help us build a better quality of life for all.  

“Now that the House has passed the SPEED Act, it has completed a rapid series of actions on permitting legislation with bipartisan support. In the New Year, the Senate should come together in the same bipartisan spirit to pass legislation that will empower America’s manufacturers to grow, compete and win. 

“Manufacturers send our gratitude to every member who voted ‘yes,’ and particularly House Natural Resources Committee Chairman Bruce Westerman (R-AR) and Rep. Jared Golden (D-ME) for their leadership.” 

Background: 

The NAM called on House members to vote “yes” on the SPEED Act ahead of the vote.  

Last week, manufacturers urged House members to vote “yes” on the PERMIT Act. This legislation adopts the NAM’s key recommendations for modernizing the Clean Water Act—reforms that increase certainty for permittees, clarify the scope of the CWA and address bottlenecks that have delayed job-creating projects.  

The House passed several additional NAM-backed permitting and grid modernization bills, including the Improving Interagency Coordination for Pipeline Reviews Act, the ePermit Act and the Electric Supply Chain Act—all of which are critical to achieving manufacturers’ vision of energy and AI dominance. 

Manufacturers also strongly supported the House Energy and Commerce Committee’s Environment Subcommittee action last week to advance key legislation to reform the Clean Air Act. From modernizing the New Source Review and National Ambient Air Quality Standards programs, to improving how the Environmental Protection Agency deals with wildfires and international emissions, these bills are integral to comprehensive permitting reform so manufacturers can get shovels in the ground quicker to expand investments and jobs. 

According to results from the NAM’s Q2 and Q4 2024 Manufacturers’ Outlook Surveys:   

• 80% of manufacturers say that the length and complexity of the permitting process is harmful to increasing investment; 

• 87% of manufacturers would expand business operations, hire more workers or increase wages and benefits if the permitting process were more streamlined; and 
• 68% of manufacturers with permittable expansion plans say they would be able to expand more quickly with a streamlined federal permitting system. 

-NAM- 

The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.90 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org. 

733 10th St. NW, Suite 700 • Washington, DC 20001 • (202) 637-3000 

Washington, D.C. – Manufacturers continue to report a mixed bag of economic challenges, according to the National Association of Manufacturers Q4 2025 Manufacturers’ Outlook Survey. As manufacturers began feeling the positive impacts of the tax bill and the president’s regulatory agenda on their business, optimism ticked up, but trade uncertainties loom, and health care costs continue to rise as a top concern for manufacturers.

“In line with the improvement in the outlook, companies expect most indices to improve marginally over the next 12 months,” said NAM Chief Economist Victoria Bloom. “For example, manufacturers predict sales will increase 2.8%, up from 2.6% in Q3, and capital