NAM Opens Petition Drive For 10% Tax Cut

The National Assn. of Manufacturers (NAM) on Jan. 14 launched an ambitious educational and lobbying program to persuade Congress to enact a 10% across-the-board tax cut for individuals and businesses. Indicating that such a cut is necessary "to keep the current economic expansion going," NAM Chairman Calvin "Tink" Campbell Jr. said the campaign will be aimed at more than 18 million employees of the association's 14,000 member companies and affiliates. Included will be a drive to get employee signatures on a petition to bring pressure on legislators to pass the cut. Campbell, who also is chairman, president, and CEO of Goodman Equipment Corp., Chicago, said that NAM expects the global economic slowdown to cause U.S. economic growth to drop from 4% to 2% this year. A tax cut, he explained, would help offset that by spurring domestic consumer spending and capital investment. Moreover, he added, a cut would be "politically reasonable because it is fair, inclusive, and affordable."