Tax cuts win-win for Wauconda manufacturer
(Vice President Pence with Nicole Wolter |Official White House photo by Tia Dufour)
Last year’s federal tax cuts were a boon to a Wauconda, Illinois manufacturer and their employees, company president Nicole Wolter said on a panel in D.C. last week.
Not only did the tax cuts help HM Manufacturing remain competitive, grow product lines, and re-invest in technology, they allowed HM Manufacturing to write off the a $500,000 investment in capital equipment. The new machine created three new positions.
The company’s employees also benefitted from the Trump Administration’s tax plan, Wolter said. Employees received pay raises and bonuses, as well as expanded healthcare benefits.
“We were able to give everybody paid healthcare,“ she said. “100%. None of it comes out of our employee’s paycheck.”
Wolter shared the tax cut impact on HM Manufacturing during a Small Business Panel discussion at the Latino Coalition and Job Creators Network’s 2019 Legislative Summit in Washington D.C.
With over 250 attendees, the Summit featured small business owners, entrepreneurs, and elected officials discussing the public policy issues key to Hispanic business owners and leaders.
Vice President Mike Pence headlined the conference, telling those attending, “Small businesses are the engine of the American economy. That’s why we’ve been working tirelessly to help make it possible for you to invest in your workers and grow your businesses.“
Ms. Wolter, who also serves on the Technology & Manufacturing Association’s Board of Directors, was among five conference attendees that met privately with the Vice President.