Washington, D.C. – Congressional Republicans and the Trump administration say they support domestic manufacturing, but those claims are completely undermined by their efforts to strip incentives and kill successful programs that have driven growth in the sector.
A new analysis from the Center for American Progress argues that draft language in the proposed budget package would gut domestic manufacturing by ending programs that offer tax credits and incentives for clean energy research, development, and production.
“By canceling these highly successful policies only to pay for tax cuts for billionaires, they are showing Americans their real priority: supporting billionaires over working people,” said Mike Williams, senior fellow at CAP and co-author of the analysis.
Supporting existing industries and helping new industries take hold requires a multifaceted approach that includes strong research and development paired with initial investments, longer-term support, and proper trade enforcement. Repealing tax credits and rescinding funds for programs meant to kickstart manufacturing is a recipe for failure when it comes to keeping any future auto and clean energy industry supply chain competitive.
Read the analysis: “House Republicans Are Giving Up on U.S. Manufacturing” by Mike Williams and Leo Banks
For more information or to speak with an expert, please contact Sam Hananel at [email protected].