Washington, D.C. - Today, Congressman Tom Emmer hosted an “Invest in America” roundtable with U.S. Treasury Secretary Scott Bessent and manufacturers from across America, including Ultra Machining Company based in Monticello and MGK based in Chaska.
During the roundtable, the group discussed the Trump administration’s work to bolster American manufacturing and the urgent need for Congress to continue the 2017 Tax Cuts and Jobs Act.
“Minnesota is home to some of our county’s most dynamic and innovative manufacturers who provide good-paying jobs and give Minnesotans the certainty they need to grow in our state. Now, we must do our part to provide certainty for these workers and job creators by making President Trump’s Tax Cuts and Jobs Act permanent. We were grateful that Don and Steve were able to join us for today’s conversation and thank them for all their work and support,” Congressman Emmer said.
“Making President Trump’s Tax Cuts and Jobs Act permanent will help to secure the stable business environment that investors and managements are seeking,” Secretary Bessent said. “Stability in tax policy fosters certainty, and extending the TCJA will drive growth, investment, and hiring as we enter America’s new economic golden age. I look forward to continuing this important conversation with Majority Whip Emmer and members of Congress to deliver on these important reforms for the American people.”
“American manufacturers need the certainty of the Tax Cuts and Jobs Act to continue investing and creating jobs in Minnesota. Companies like UMC are the remnants holding American manufacturing together. Writing-off R&D expenses in the year incurred will give us the stability to grow long term. Thanks to Congressman Emmer and Secretary Bessent for their support," Don Tomann, CEO of Ultra Machining Company said.
“Since the Tax Cuts and Jobs Act was passed in 2017, our workforce in Minnesota has almost doubled in size. Preserving the ability of businesses to deduct R&D expenses each year is critical to the continued growth of our company,” Steve Gullickson, President & CEO of MGK said. “I appreciated the opportunity to share MGK’s story with members of Congress and Treasury Secretary Bessent.”
In 2023, Congressman Emmer hosted a separate roundtable discussion with over a dozen Minnesota manufacturers at MGK in Chaska to highlight their important role in the state’s economy. In August 2023, Emmer met with Ultra Machining Company CEO Don Tomann and toured their Monticello facility. During the visit, the two discussed ways to work together to revitalize Minnesota manufacturing and provide critical help through research and development tax incentives.
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