Congressman Paul Ryan Meets with First District Business Benefitting From Tax Cuts & Jobs Act
WASHINGTON, D.C. - Congressman Paul Ryan spent last week traveling around the First District meeting with constituents. One of his stops included a meeting with the leadership of Precision Plus in Elkhorn, Wisconsin. The company recently gave bonuses and raises to workers as a result of tax reform. Executives spoke with Congressman Ryan about how the Tax Cuts and Jobs Act will allow them to increase investments in new equipment, their employees, training programs, and the community. Founded in 1982 as a family-owned and operated American manufacturer of precision machined parts, Precision Plus serves as a global industry leader in precision machining.
Following Congressman Ryan’s visit, Precision Plus executives stated, “We appreciated the opportunity to meet with Congressman Ryan and discuss ways that tax reform will help our business and our employees. As a result of new pass-through deductions, 100 percent bonus depreciation and reduced tax rates, Precision Plus will be able to reinvest funds into our business and our employees. After the tax cuts bill passed, our employees received bonuses and raises, as well as bigger paychecks and more take home pay to support their families. We are also pleased that Precision Plus will be able to invest more funds into charitable giving, which will positively impact the Elkhorn community and its residents.”
After meeting with Precision Plus executives, Congressman Ryan said, “I am pleased to learn of both the immediate and future benefits that Precision Plus and its employees will experience as a result of these historic tax reform measures. Precision Plus’ projections reflect what other manufacturers and small businesses are telling me. Thanks to tax reform, businesses are able to increase investments, expand operations, take risks, and give bonuses and raises to their employees. Already, four million workers (and counting) have experienced bonuses and pay raises as a result of the tax cuts bill. Tax reform is soaring economic confidence and helping millions of American workers.”
Ryan’s visit last week follows the news that over 350 companies nationwide have been able to increase wages, bonuses, hiring, and investments as a result of the Tax Cuts and Jobs Act, after eight weeks after being signed into law.