What is next for manufacturing in the United States? What will the effects of this tax reform bill really be? Only time will tell, but one possibility is an increase in businesses choosing to manufacture in the US. Expert Willy Shih told IndustryWeek that companies moving may choose to increase automation in their production. "He pointed to a variety of technologies such as simulation software and machine learning that will help companies improve the efficiency of their operations and help the move toward mass customization. At the heart of much of Industry 4.0, he said, is the move away from build-to-stock and toward build-to-order."
Recommended ReadHas US Manufacturing Been Unleashed?Source: http://www.industryweek.com"This legislation represents historic progress for manufacturers and for all Americans," Jay Timmons, president and CEO of the National Association of Manufacturers, said in response to passage of the tax reform bill, which lowered the U.S. corporate tax rate from 35% to 21%. With the new bill, Timmons promised, manufacturers will "increase capital spending, expand their businesses and hire more workers…" -- and "nearly half will increase employee wages and benefits."
Tax reform is just one of a series of policy changes the Trump administration and the Republican-led Congress are seeking that business groups have lobbied for in recent years. The president has already started to push back against regulations. He is advocating a $1.5 trillion infrastructure investment which will begin to address America's aging roads, bridges and other transportation avenues. And he is calling for more "reciprocal" trade agreements that seek not simply to expand trade but to make trade more equitable.
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