“The American Bakers Association applauds Congress for passing the most comprehensive, pro-growth tax reform in 30 years,” said ABA President & CEO Robb MacKie. “ABA especially applauds Speaker Paul Ryan, Majority Leader Mitch McConnell, and tax writing committee chairs Kevin Brady and Orrin Hatch for their persistence and perseverance in accomplishing what so many in Washington thought was impossible.”
“After a decade of piecemeal, stop gap tax changes, bakers now have the clarity and consistency necessary to implement long-term sustainable growth strategies. The reduction in corporate tax rates, the new pass-through tax rates for small businesses and the full expensing of capital expenditure costs will provide the necessary fuel to jump start bakers’ expansion and growth plans,” continued MacKie.
“Coupled with the rollback of the regulatory overreach of the past few years, bakers and their suppliers have more capital and flexibility to modernize facilities, meet new consumer trends and add skilled employees. Now the biggest challenge facing bakers will be finding and training those skilled employees to sustain their growth plans,” MacKie concluded.