TRUMP EFFECT: Manufacturer Optimism Hits an ALL TIME HIGH!



A new poll reveals that manufacturer optimism is at a record-high after President Trump’s tax reform plan was revealed.
You won’t hear the mainstream media reporting on this!
Optimism for small and large manufacturers over the last three economic quarters has averaged a record high of 90.87 percent, which is the highest seen in 20 years. It’s also significantly higher than 59.77 percent optimism seen in the first three quarters of 2016.
The survey found that 64.3 percent of manufacturers said the promise of tax reform would allow them to expand their business, 57.3 percent said they would hire more workers, and 52.2 percent said they would increase wages and benefits for employees.
The survey results were presented at the National Association of Manufacturers board of directors meeting Friday where both manufacturing members and President Trump touted tax reform and the framework that was released on Wednesday.
“We are so excited, so optimistic—our nation is a coiled spring and we’re about to launch,” said Drew Greenblatt, president and owner of Marlin Steel Wire Products. “Our company is buying one million dollars’ worth of new equipment this week to take advantage of this wonderful new tax reform.”
“That means new jobs will be created in our city,” he said. “That means we’ll be more efficient, more effective, and our employees will have the best tools in the world.”
Greenblatt said one of the things in the tax reform proposal that makes him optimistic is instant expensing.
“That means when we go buy something, we don’t have to take a beat down on our taxes over 10 years, we can instantly expense it,” he said. “This gives us enthusiasm to do it now, to move these huge investments right here, what happens then is your employees have better tools now.”
“These are all the good things that come out of instant expensing, so bottom line is we’re extremely optimistic. Bottom line is its great for our nation and wonderful for the middle class,” Greenblatt said.
Chuck Wetherington, president of BTE technologies, said the overhead structure for the medical devices his company provides can be very expensive, and the tax reform plan makes him optimistic because of its lower tax structure and R&D credits. Instead of only being able to work on one product development plan at a time, Wetherington forsees that the tax reform plan will allow him to work on two or three of those projects at a time.
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