Recent reports are showing the benefits of tax reform for many industries in 2018, including top-of-mind industries and those not as frequently found on the front page. FreedomWorks Vice President of Advocacy Noah Wall commented:
“The reason the new tax code is benefiting such a variety of industries is because December’s tax reform was broad and far-reaching. It simplified the tax code and is a tax cut for every group of people.
“This means industries operating on thin margins such as toy manufacturers like Skullduggery, Inc. in Anaheim, California will be able to be more competitive. It means those in the grocery industry will have more room to innovate and improve.
“Beer distributors will see positive effects due to the reduction in the excise tax. That automatically puts more money into these businesses for them to upgrade, create new products, and expand. All of that means new jobs to do this required work and more jobs as the companies experience more success.
“Even the waste and recycling industry will benefit from the tax savings, allowing them to produce value with fewer resources.
“We are excited to see the effects of fundamental tax reform across all industries as our economy grows in 2018.”