The Memo
The White House issued a memorandum within a news release earlier this week, citing results from a new report issued by the National Association of Manufacturers showing the benefits of the so-called “One Big Beautiful Bill” signed into law one year ago. The full report is at nam.org.
The report cites a manufacturing success story in each of the 50 states, and denotes the impact by state in jobs protected, and GDP and wages saved, by keeping those jobs here.
The White House memo quantifies this as some six million jobs sustained, with more than a trillion dollars of economic output preserved, and protection of more than a half trillion of wages—all in manufacturing, all in just one year.
The NAM report lists the saving of 57,000 jobs in Iowa alone, with a $10 billion impact on state GDP, and $5 billion in wages for workers.
The measures contributing to that included full expensing immediately for equipment and machinery, full deductions for new and expanded factories, and immediately expensing of research and development.
The idea was to incentivize growth in a field where Iowa has been among the nation’s leaders. The data from NAM would seem to confirm that.
