Toomey Report: Manufacturers Face Job-Killing Tax Hike Under Obama Plan
While excuses continue to be made for President Obama’s dismal record on job creation, it’s more difficult to rationalize a policy that actually drives jobs away.
A report prepared by U.S. Senator Pat Toomey (R-Lehigh) shows that the Administration’s tax policies will undermine the very sector that has the strongest multiplier effect on job growth - manufacturing.
A planned tax increase in 2013 will raise the marginal rates on many manufacturers from 35 percent to 41 percent.