Note: Single-source report; awaiting corroboration.
One year after the Working Families Tax Cuts were enacted, a new report shows the legislation has contributed to a manufacturing resurgence in every state. The law is credited with sustaining nearly six million American jobs, preserving over $1 trillion in economic output, and protecting approximately $540 billion in wages—impacts described as among the strongest in modern U.S. manufacturing history.
The policy includes full expensing for equipment and machinery, immediate research and development expensing, full deductions for new and expanded factories, and incentives to encourage domestic manufacturing investments. Together, these provisions are reported to promote investment, innovation, and growth across the manufacturing sector nationwide.
The report details state-by-state benefits. For example, California has sustained 708,000 jobs with $134 billion in preserved GDP and $67 billion in wages, while Texas supported 547,000 jobs with $107 billion in GDP and $51 billion in wages. Smaller states like Vermont and Wyoming have also benefited, protecting 12,000 and 11,000 jobs respectively, alongside billions of dollars in economic output and wages. This data highlights the broad economic impact attributed to the tax cuts.
The findings, compiled by the National Association of Manufacturers, suggest these economic policies are effective at prioritizing American families and businesses and rebuilding industrial capacity in communities nationwide.