Boeing CEO Dennis Muilenburg calls tax reform a “big enabler” for American manufacturing and says it will generate “millions of jobs.”

“I believe tax reform is the single most important thing we can do to generate job growth in the U.S.,” Muilenburg said.

Here are the top 5 reasons U.S. manufacturers need tax reform:

1. Tax reform will allow America companies to better compete in a global market.

American-based companies are battling foreign competitors across the world who enjoy lower corporate tax rates than we do here. It’s time to take the handcuffs off and grow America’s economy. A new tax system that promotes innovation and job creation is key.

2. Tax reform will create more jobs in America.

Boeing alone employs nearly 137,000 people in the U.S. and another 1.3 million through its supply chain. Lower corporate taxes will enable manufacturing companies like Boeing to invest in quality jobs that provide good salaries to American workers. Tax reform could create millions of jobs for workers of all education and skill levels.

3. Tax reform will encourage innovation in U.S. manufacturing.

By cutting corporate taxes, technology and manufacturing companies will be able to invest more resources into research and development (R&D). This R&D is what drives new products, inventions, and ultimately job growth.

4.Tax reform will help save the manufacturing industry in America.

More and more products are being manufactured overseas, and that means U.S. jobs are leaving with those products. Lower corporate taxes will encourage U.S. manufacturers of all sizes to make their products right here in America.

5. Tax reform will energize the economy.

Boeing CEO Dennis Muilenburg said it best: “[Tax reform] will unleash the economic horsepower of this country.”

A lower corporate tax rate will encourage companies to invest in the U.S., which will lead to a need for more American jobs. Job growth will raise the standard of living for all Americans, which will in turn grow the U.S. economy.

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Tax reform is more than just tax cuts — it refers to broad, sweeping changes to the entire tax system.

So what does this mean for hardworking Americans? Tax reform will help American businesses, like Boeing, compete globally and create opportunities in the U.S. Today, the U.S. has one of the highest corporate tax rates in the industrialized world. A lower tax rate will help American companies win in the global economy, while driving growth, innovation and investment in the U.S.

It is an important tool to energize the economy and creates more opportunity for each and every American.

Follow the latest on the tax reform proposal as it continues through Congress.

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The current 35 percent corporate tax rate handicaps American companies trying to compete in the global economy and stifles job creation at home. Muilenburg spoke about the benefits tax reform would bring to the U.S. economy, including:

In addition to tax reform, Muilenburg also spoke about the importance of fair international trade and how Boeing welcomes competition when everyone plays by the same rules.

See what the Boeing CEO has to say about these topics (please view in Firefox, Safari or Chrome).

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The President and CEO of the National Association of Manufacturers, Jay Timmons, praised the “bold proposal” as a “grand slam for hardworking manufacturers and the U.S. economy” — to keep the momentum moving forward on tax reform. There are still details to review, but Timmons said, “The proposal is a guaranteed path to surge investment, jobs and economic growth that will lead to better lives for every American.”

Boeing CEO Dennis Muilenburg calls tax reform a “big enabler” for American manufacturing and says it will generate “millions of jobs.”

American workers are battling foreign competitors across the world who almost all enjoy lower tax rates than we do. It’s time to take the handcuffs off so America can reclaim its position as the world leader. A new tax system that promotes innovation and job creation is key.

There’s much more to come on this issue. Watch U.S. Fly will closely follow the tax reform debate and keep you informed.

Read more about Congress’ tax reform proposal.

The post What You Need to Know About the New Tax Plan appeared first on Watch U.S. Fly.

“We have the worst, the least competitive tax system in the industrialized world,” Ryan said at Boeing’s Everett, Washington facility. “What does that mean? Well clearly and very specifically for Boeing, it means that we are taxing this business, these planes, your jobs in this country at a much higher tax rate than our foreign competitors tax theirs.”

Large enough to encompass Disneyland, more than 30,000 people work at the Boeing Everett site, which produces the 747, 767 (which eventually becomes the Air Force’s new refueling airplane), 777, and 787. Eighty percent of the planes made in Everett and Renton are exports headed to customers outside the U.S.

Permanent, transformative and long-overdue tax reform would level the playing field so American companies like Boeing — and their thousands of American supply chain partners — can compete fairly around the world.

Read more of what Speaker Ryan had to say about tax reform.

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