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National Association of Manufacturers CEO: Congress Can Accomplish Both Tax and Immigration Reform

NAM CEO Jay Timmons called for a 15% corporate tax rate during an interview, saying it would add $10 trillion to the economy over the next ten years.

National Association of Manufacturers (NAM) CEO Jay Timmons said that he thinks Congress can accomplish both immigration and tax reform during an interview on CNBC’s “Squawk on the Street” on Wednesday.

CNBC’s Carl Quintanilla asked Timmons what he thought Congress should take up first: tax reform or immigration reform.

“Look, I think that Congress can walk and chew gum at the same time. I think they can move both of these issues down the track, get things done,” Timmons said. “You have people that are elected to actually improve this country, and those two issues are pretty important.”

Quintanilla followed up by asking if Timmons if he thought Congress could, in fact, accomplish both, given Congress’ track record since January.

“They have the ability. They have the capability of doing it. One party controls all branches of government,” Timmons responded. “This is the time. This is the opportunity to do exactly what they need to do on immigration reform, on tax reform, on regulatory reform and also infrastructure.”

On the issue of immigration reform, Timmons told Quintanilla: “The Dreamers are not the problem. Immigration is absolutely broken in this country. There is no question about that. Congress and previous administrations have missed many opportunities to fix the problem by their inaction. Now is the time to step up and do it.”

Timmons was then asked what NAM thinks the corporate tax rate should be.

“The President said 15 percent. We have been advocating 15 percent. We also want to make sure that pass-through entities are not left behind – that they have a similar competitive tax rate – territorial system and research and development tax credit and expensing as well,” Timmons responded.

Timmons concluded by saying that a 15 percent corporate tax rate would add $10 trillion to the economy over the next ten years.