Gray President & CEO Shares Perspective on Tax Reform with CNBC
Today, Stephen Gray, president and CEO of nationally-ranked engineering, architecture and construction firm Gray Construction, appeared on CNBC's “Power Lunch” speaking about the issue of tax reform. He explained how it impacts our customers, 90 percent of which are in the manufacturing sector, and in turn, affects Gray.
Comprehensive tax reform has been at the forefront of politics this year as the business impact of new corporate tax reform could have a positive effect on the industrial economy. Most recently, the House of Representatives passed the Tax Cuts and Jobs Act, which would chop the corporate tax rate from 35 percent to 20 percent. The Senate Finance Committee has also passed a bill, which will be sent to the full Senate soon.
“The U.S. is seen throughout the world as a great place for manufacturing," said Stephen Gray. "We have incredible competitive advantages, and I think the tax reform package will actually help us."
Overall, tax reform would increase economic activity, create a more stable business environment, open the door for manufacturing companies to reinvest into the economy through new capital investments or expansions or distribute the income to employees.
Many are hoping a full tax overhaul will be passed before the holidays.
About Gray Construction
Gray Construction is a nationally ranked engineering, architecture and construction firm with nearly 60 years of experience in manufacturing, automotive, food and beverage, distribution, hospitality and retail facility construction. Currently, Gray has several large projects that are underway or recently completed including: a Mercedes-Benz manufacturing facility in Vance, Ala.; a world-class kitchen for Champion Petfoods in Auburn, Ky.; a manufacturing facility for Italian paper product manufacturer Sofidel in Circleville, Ohio; a state-of-the-art facility for Kraft Heinz in Davenport, Iowa; a fresh pork processing facility in Coldwater, Michigan for Clemens Food Group; and a titanium and aluminum component manufacturing facility for Weber Metals, Inc., in Paramount, Calif.
For more information on Gray, visit www.gray.com.