CONCORD - U.S. Representative Richard Hudson (NC-08) visited Ketchie Incorporated Friday to have a conversation about the challenges and prospects facing manufacturers, as well as House Republicans’ vision to advance comprehensive tax reform that spurs job creation and grows our economy.
“Concord was hit hard with job loss in the textile industry, but Ketchie endured and continues to thrive,” said Rep. Hudson. “I’m so impressed with what they continue to do to provide our community good-paying jobs and contribute to the local economy. It’s clear comprehensive tax reform that lowers rates and closes loopholes could have a profound impact on them and other small businesses across North Carolina.”
“It was refreshing to visit with Representative Hudson and talk about the importance of tax reform to Ketchie Inc.,” said CEO Courtney Ketchie Silver. “After having the opportunity to spend some time with Representative Hudson, he has our full support moving forward and it is comforting to know we have his as well. Not only is he a public servant, but he is also our friend and he like myself cares deeply about the people in this community.”
Rep. Hudson and his colleagues are working to advance a plan that makes the tax code simpler, fairer, and flatter. In addition to other ideas, Rep. Hudson wants to see a plan that:
*Cuts taxes on small businesses by creating a separate, low tax rate of 25 percent for many on Main Street.
*Cuts taxes on savings and investment by allowing families and individuals to deduct 50 percent of the dividends, capital gains, and interest received from stocks and mutual funds.
*Provides a tax-free return on new investment by allowing, for the first time ever, full and immediate write-offs.
*Restores American competitiveness by lowering our corporate tax rate from the highest in the industrialized world to 20 percent and shifting to a “territorial” system with more competitive rates.
*Creates more certainty by eliminating the death tax, which can take up to 40 percent of a family business’s assets if the owner passes away.
Ketchie Incorporated is celebrating its 70th year as a precision machine shop and provider of bearing service products.
Ketchie Inc. has continuously grown since its formation in 1947; from a textile job shop serving the local textile mills to a third generation, ISO certified, woman-owned corporation operating CNC equipment and providing total supply chain solutions for both government and commercial clients.
Ketchie serves a broad range of industries including railroad, mining, lumber, aggregates, textiles and many specialized original equipment manufacturers in all 50 states and across five continents from their strategic location in Concord.