The National Association of Manufacturers has launched an industry-wide effort to educate Congress and the Biden administration on the need for action to preserve the pro-growth 2017 tax reform provisions set to expire at the end of 2025.

“The transformative impact of 2017 tax reform cannot be overstated. Tax reform was rocket fuel, igniting a resurgence in the manufacturing sector. It put into place competitive policies that fueled record job creation, wage growth, capital investment and innovation,” said Jay Timmons, NAM president and CEO, in a statement.

“However, if Congress does not act, next year’s expiration of these powerful force multipliers will undo much of the progress made by our industry and America. Manufacturers are putting a stake in the ground and warning policymakers to stand up against any tax increases on the people who make things in America.”

Tax reform provisions are set to expire at the end of 2025, resulting in significant tax increases for virtually all manufacturers, NAM said in a release.

A recent NAM survey found that 94% of manufacturers believe Congress should act before the end of 2025 to prevent these tax increases.

If Congress fails to act, 73% of manufacturers would be forced to limit capital investments, 65% would have to reduce job creation and 52% would spend less on research and development, among other damaging impacts, the survey said.

Additionally, 93% of pass-through manufacturers said that the loss of the pass-through deduction, which ensures a level-playing field for small businesses that pay tax at individual tax rates, would harm their ability to grow, create jobs and invest in their business, the survey said.

NAM recently submitted a letter to House Ways and Means Committee Chairman Jason Smith (R-Missouri) and ranking member Richard Neal (D-Massachusetts), and Senate Finance Committee Chairman Ron Wyden (D-Oregon) and ranking member Mike Crapo (R-Idaho) outlining manufacturers’ tax priorities for 2025.