Industry witnesses tell Ways and Means field hearing permanent tax changes will boost investment and hiring

At a House Ways and Means Committee field hearing at the Ronald Reagan Presidential Library, industry witnesses from agriculture, convenience retail and aerospace told members that provisions in HR 1 that make certain 2017 tax changes permanent will increase investment and hiring.

The committee convened with Chairman Smith presiding. Witnesses who testified in favor of the bill included Kevin Koester, a fifth‑generation rancher and former National Cattlemen’s Beef Association official; Raymond Huff, president of HJB Convenience; Will Fulton, vice president of business development at Robinson Helicopter; and Jay Timmons, president of the National Association of Manufacturers. Economist Joshua Rao of Stanford also testified about expected macroeconomic effects.

Why it matters: Supporters said permanence and restored tax provisions reduce uncertainty for capital investment, allow family farms and pass‑through businesses to plan multi‑year investments, and accelerate research and manufacturing projects that they said would create jobs locally.

Industry leaders…