White House to Meet with MEMA and Other Auto Industry Leaders on Tax Reform
The Motor & Equipment Manufacturers Association President and CEO Steve Handschuh will join other automotive industry executives today in a meeting with the White House’s National Economic Council (NEC).
The meeting, which has been called a “listening session” by the White House, will focus on tax reform. In addition to MEMA, the NEC meeting will include the Alliance of Automotive Manufacturers, American International Automobile Dealers Associations, Automobile Dealers Association, Auto Service Association, Global Automakers, and National Auto Dealers Association.
The White House “listening sessions” have been billed by the Trump administration as part of an effort to develop and build support for a tax reform package that the administration hopes to bring to a vote this year.
MEMA has been vocal in Washington regarding tax reform, emphasizing that it is crucial for American competitiveness as many competing countries have an edge in the global marketplace due to their country’s tax requirements. MEMA has urged Congress to: lower corporate rates; support tax credits for business investments that foster renewed development and deployment of vehicle technologies and products in the U.S.; and lower the tax rate for accumulated foreign earnings, allowing capital held offshore to be repatriated in support of growing U.S. businesses. While MEMA supports tax reform that promotes manufacturing competitiveness, U.S. job growth, and productivity, we do not believe the Border Adjustment Tax (BAT), as currently outlined in the House Republican plan, will achieve those objectives.
This is the second meeting between MEMA and the NEC and the latest of several meetings with Trump administration officials as part of MEMA’s comprehensive efforts to advance tax reform, to promote balanced trade policies, and to support U.S. manufacturing jobs. The first meeting with NEC, which was held in March, aimed to address issues of top importance to motor vehicle parts suppliers including trade, tax reform, and regulatory reform. The meeting also served to create greater awareness among the Trump administration of the motor vehicle parts supplier industry, which represents the largest manufacturing sector in the U.S., directly employing more than 871,000 Americans.
The Motor & Equipment Manufacturers Association (MEMA) and its four specialized divisions comprise a leading international trade association in the fast-changing mobility industry. Representing vehicle suppliers that manufacture and remanufacture components, technologies, and systems for use in passenger cars and heavy trucks, MEMA serves as a critical bridge between high-tech capabilities in new vehicles –such as autonomous vehicles and vehicle connectivity—and the “nuts and bolts” of vehicle manufacturing. MEMA works at state, federal, and international levels to ensure that the marketplace and public policy support the development of advanced, transformative technologies that enable safer, smarter, and more efficient vehicles. MEMA’s members are represented through four divisions: Automotive Aftermarket Suppliers Association (AASA), Heavy Duty Manufacturers Association (HDMA), Motor & Equipment Remanufacturers Association (MERA), and Original Equipment Suppliers Association (OESA). For more information on how MEMA is leading transformation in the mobility industry, visit www.mema.org.