Manufacturers Meeting With White House About Fiscal Cliff
Two of the manufacturing sector's top lobbyists are heading to the White House later this afternoon to warn administration officials against raising taxes in a fiscal cliff deal.
National Association of Manufacturers president and CEO Jay Timmons and senior vice president for government relations Aric Newhouse are meeting with White House economic adviser Gene Sperling and Office of Management and Budget chief Jeff Zients later this afternoon, NAM spokesman Jeff Ostermayer tells the Alley.
"Our members are already feeling the strain from the cliff. A tax increase will hurt manufacturers as two-thirds file at the individual rate as an S-Corp. So in particular, small manufacturers will be really impacted and they are all holding off on hiring and investing," Ostermayer said.